US Crude Stocks fall for 4th week

Crude inventories in the US dropped by 1.632 million barrels in the week ended August 14th, following an 4.512 million decline in the previous week and compared with analysts’ estimates of a 2.67 million fall, according to the EIA Petroleum Status Report.

Cushing Crude Oil inventories dropped by 0.607 million barrels, following a 1.3 million increase from last week.
Gasoline inventories fell by about 3.322 million barrels, following a 0.722 million decrease in the prior period and above analysts’ expectations of about 1.057 million barrels decline.

WTI Crude Oil (OIL.WTI) price bounced off the $42.58 support level after the release of today's EIA report and is testing the $43.00 resistance level. Source: xStation5

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