BREAKING: Crude oil inventories fall stronger than expected

05:00 PM GMT, United States - EIA Data:

• Crude Oil Inventories: actual -1.017M; forecast -0.4M; previous -1.962M;

• Crude Oil Imports: actual 0.184M; previous -1.304M;

• Gasoline Inventories: actual 2.332M; forecast 2.500M; previous 5.852M;

• Gasoline Production: actual -0.043M; previous 0.397M;

• EIA Weekly Distillates Stocks: actual -3.070M; forecast 0.600M; previous 3.077M;

• Distillate Fuel Production: actual -0.473M; previous -0.021M;

Although data suggests an overally improved demand for crude, the WTI contracts continue falling after Donald Trumps' declarations at the World Economic Forum in Davos to pressure OPEC and Saudi Arabia to lower oil prices.

Source: xStation5