US Crude Stocks continue to fall

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Crude inventories in the US decreased by 4.98 million barrels in the week ended May 15th, 2020, following a 0.745 million drop in the previous period and compared with analysts’ estimates of a 1.15 million advance, according to the EIA Petroleum Status Report.

Meanwhile, gasoline inventories rose 2.83 million, while markets had forecast a 2.9million decline.

WTI Crude Oil (OIL.WTI) fell after the release of today's report and is curently testing $33.22 resistance level. Source: xStation5

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