OIL.WTI little changed after sharper drop in US inventories

United States – EIA report:

Eia crude oil inventories actual -3.169m (forecast -1.5m, previous -3.859m)

This is very interesting data, clearly diverging from the API report in terms of the change in crude oil inventories. The data shows that demand for crude oil and automotive fuels is strong, but despite this, prices are falling. It's worth noting that crude oil inventories have been moving relatively flat in recent weeks, although seasonal patterns have indicated significant declines.

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