The latest American Petroleum Institute (API) weekly inventory data recorded a build of 2.1 million barrels compared with expectations of a draw of around 1.0 million for the week and following the 1.3 million draw reported last week.
A substantial draw in gasoline stocks should help limit the damage to prices from a surprise headline build in inventories.
Cushing stocks rose by 1.3 million barrels according to the data, which was much higher than the Genscape estimate of around a 0.3 million build for the week.
There was a substantial in gasoline stocks of 3.9 million, which should provide further significant relief over bloated gasoline stocks, while distillates recorded a draw of 1.6 million barrels.
GMT 18:51 2017 Thursday ,09 February
US Oil Inventories Increase by 14.2 million Barrels Last WeekGMT 17:59 2016 Wednesday ,21 September
7.5 Million Barrel Draw in Weekly Crude Oil StockMaintained and developed by Arabs Today Group SAL.
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Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
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