US Crude Stocks fall for 3rd week

Crude inventories in the US dropped  by  4.512 million barrels in the week ended August 7th, following an 7.373 million decline in the previous week and compared with analysts’ estimates of a 2.875 million fall, according to the EIA Petroleum Status Report.

 

Cushing Crude Oil inventories rose by  1.336 million barrels, following a 0.532 million increase from last week.

 

Gasoline inventories fell by about 0.722 million barrels, following a 0.419 million increase in the prior period and above  analysts’ expectations of about 0.674 million barrels decline.

WTI Crude Oil (OIL.WTI) - publication of today's report did not have a significant impact on the oil prices. WTI Oil continues to trade around the $42,40 level. Source: xStation5

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