U.S. Crude Oil Inventories Fell by 8.65M Barrels Last Week: EIA
Source: www.investing.com
As per this weeks report by the EIA released Wednesday, U.S. crude oil inventories fell by 8.65 million barrels for the week to Feb. 22. These results were contrary to forecasts for a build of 2.84 million barrels. Gasoline inventories declined by 1.91 million barrels, compared to forecasts for a draw of 1.69 million barrels, while distillate stockpiles fell by 0.3 million barrels, compared to expectations for a decline of 1.95 million barrels. Following the positive data release, U.S. crude prices rose 2.49% at $56.88 a barrel by 10:34 AM ET, compared to $56.40 prior to the publication.
