U.S. CRUDE INVENTORIES PLUNGE, FAR EXCEEDING EXPECTATIONS U.S. crude oil inventories fell 3.06 million barrels last week, versus expectatio…
U.S. CRUDE INVENTORIES PLUNGE, FAR EXCEEDING EXPECTATIONS
U.S. crude oil inventories fell 3.06 million barrels last week, versus expectations for a decline of just 324,000 barrels.
🔸 Crude stocks: 412.5M barrels, 3% below normal
🔸 Gasoline inventories: -3.0M barrels
🔸 Distillate inventories: +1.7M barrels
🔸 Total petroleum inventories: -8.5M barrels
The key takeaway: A much larger-than-expected inventory draw signals tighter U.S. oil supplies, adding potential upward pressure on crude prices.