BREAKING: US Crude Stocks fall more than expected

3:35 PM April 14, 2021

Crude inventories in the US dropped  by 5.890 million barrels in the week ended April 9th, following a 3.522 million decrease in the previous week and compared with analysts’ estimates of a 2.889 million decrease, according to the EIA Petroleum Status Report. 

Cushing Crude Oil inventories rose by 0.346 million barrels, following a 0.735 million barrels decrease from last week.

Gasoline inventories rose by 0.309 million barrels, following a 4.044 million barrels advance in the prior period and below analysts’ expectations of 0.786 million barrels increase. 

US distillate inventories fell by  2.083 million barrels after increasing 1.452 million barrels in the previous week.

WTI Crude Oil (OIL.WTI) price broke above $61.92 resistance level after the release of today's EIA report and is heading towards next  resistance level at $63.76. Source:xStation5   

 

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