BREAKING: US Crude Stocks unexpectedly drop

2:36 PM September 30, 2020

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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