Crude inventories in the US dropped by 7.36 million barrels in the week ended June 11th, following an 5.241 million decrease in the previous week and compared with analysts’ estimates of a 3.29 million decline, according to the EIA Petroleum Status Report.
Cushing Crude Oil inventories dropped to -0.215 million barrels, following a 0.165 million barrels increase from last week.
Gasoline inventories rose by 1.954 million barrels, following a 7.046 million barrels advance in the prior period and above analysts’ expectations of 0.614 million barrels decrease.
US distillate inventories fell to - 1.023 million barrels after increasing 4.412 million barrels in the previous week.
WTI Crude Oil (OIL.WTI) price rose after the release of today's EIA report and is heading towards resistance level at $72.52. Source:xStation5
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