Crude inventories in the US rose by 15.189 million barrels in the week ended December 4th, following an 0.679 million decrease in the previous week and compared with analysts’ estimates of a 1.424 million drop, according to the EIA Petroleum Status Report.Cushing Crude Oil inventories decreased to 1.364 million barrels, following a 0.317 million barrels decline from last week. Gasoline inventories rose by 4.222 million barrels, following a 3.491 million increase in the prior period and above analysts’ expectations of 2.271 million barrels advance.
WTI Crude Oil (OIL.WTI) price broke below the 50 SMA (green line) and $45.74 support level after the release of today's EIA report and is currently testing $45.23 support level. Source: xStation5
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