Crude inventories in the US dropped by 1.98 million barrels in the week ended September 25th, following an 1.639 million decline in the previous week and compared with analysts’ estimates of a 1.569 million rise, according to the EIA Petroleum Status Report.
Cushing Crude Oil inventories increased to 1.785 million barrels, following a 0.004 million increase from last week.
Gasoline inventories increased by 0.683 million barrels, following a 4.025 million decrease in the prior period and above analysts’ expectations of 1.083 million barrels decline.
WTI Crude Oil (OIL.WTI) price rose after the release of today's EIA report and is heading towards $40.75 resistance level.
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