US Crude Stocks fall for 2nd week

3:36 PM August 5, 2020
Crude inventories in the US dropped  by 7.373 million barrels in the week ended July 31st, following an 10.612 million decline in the previous week and compared with analysts’ estimates of a 3.001 million decrease, according to the EIA Petroleum Status Report.
 
Cushing Crude Oil inventories decreased to 0.532  million barrels from 1.309 million barrels in the previous week.
 
Gasoline inventories rose by about 0.419 million barrels, following a 0.654 million increase in the prior period and above  analysts’ expectations of about 0,17 million barrels decline.
The publication of today's report did not have a significant impact on the oil prices. WTI Oil (OIL.WTI) continues to trade around the $43,00 support level. Source: xStation5
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