Weekly crude inventories fell by 6088K barrels, exceeding the expected 4461K draw and signaling stronger demand.
US crude oil inventories declined by 6088K barrels in the latest week, surpassing the 4461K draw analysts had anticipated. The larger-than-expected reduction suggests robust demand or supply adjustments in the market.
The prior week’s draw was 8263K barrels, while gasoline and distillate stocks also fell, though less than projected. Gasoline inventories dropped by 578K barrels versus expectations of a 505K decline, and distillates saw a modest draw.
Earlier private API data had shown mixed trends, with crude stocks down 765K barrels but gasoline and distillates rising by 1238K and 1447K barrels, respectively.