U.S. Crude Inventories Post Massive Draw of 11.5M Barrels

U.S. Crude Inventories Post Massive Draw of 11.5M Barrels

Oil prices bounced back on Wednesday morning after the EIA confirmed a very significant draw in crude inventories

US Crude Inventories Fall by Most in a Year, Fuel Stocks Build, EIA Says - Energy News, Top Headlines, Commentaries, Features & Events

(Reuters) – U.S. crude oil stockpiles fell sharply last week, posting their largest decline in a year, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories fell by 11.5 million barrels to 420.9 million barrels in the week ending June 13, the EIA said, compared with analysts’ expectations in ...

U.S. Crude Stocks Plummet by 11.5M Barrels: Oil Prices Steady as Geopolitical Tensions Ease

The U.S. energy market is reeling from a massive 11.5 million-barrel draw in crude oil inventories, one of the largest weekly declines in recent memory. Despite this significant tightening of supply, oil prices have remained surprisingly stable, with West Texas Intermediate (WTI) July contracts hovering around $71.88 after a brief spike earlier this week. The muted price response is attributed to signals from Iran indicating a willingness to eng…