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U.S. Crude Inventory Dropped 4 Million Barrels Last Week: API

CommoditiesAug 31, 2021 04:39PM ET
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Investing.com -- Oil inventories fell more than expected last week, according to data from the American Petroleum Institute.

Crude inventories showed a draw of 4.045 million barrels. Expectations had been for a draw of 2.833 million barrels last week, against an actual draw of 1.622 the week before that.

The price of Crude Oil WTI Futures, the U.S. benchmark, fell 0.98%, to $68.52, after the data were released. Brent Oil Futures, the international standard, was down 0.8%, at $71.64.

The industry report also showed a draw of 1.96 million barrels of distillate stocks but an increase of 2.71 million barrels of gasoline.

U.S. Crude Inventory Dropped 4 Million Barrels Last Week: API
 

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Comments (2)
Kevin Onwe
Kevin Onwe Aug 31, 2021 5:32PM ET
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THAT IS GOOD
Meru Pet
Meru Pet Aug 31, 2021 5:32PM ET
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for what? you are happy to pay more ?
Tommy Lambert
Tommy Lambert Aug 31, 2021 5:32PM ET
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Meru Pet You must not own oil or oil stocks.
Αριστοτέλης Μπενής
Αριστοτέλης Μπενής Aug 31, 2021 4:48PM ET
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As we expected!
 
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