Crude oil stocks fell by 7.863M
The weekly EIA oil inventory data showed a large drawdown of crude oil stocks.
The drawdown was significantly larger than the estimated decrease of 2.942M.
Distillates saw a modest build of 0.372M, contrary to the expected drawdown of 1.072M.
Gasoline stocks also decreased, with a drawdown of 1.548M, less than the estimated decrease of 2.096M.