Crude oil inventories in the United States fell by 4.383 million barrels for week ending October 13, according to The American Petroleum Institute (API), countering the large 12.940-million-barrel rise in crude inventories in the week prior, API data showed. Analysts were expecting a draw of 1.267 million barrels for the week.
On Monday, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) stayed the same for the second week in a row, with the SPR inventory still sitting at a near 40-year low…Across The Board Crude Oil, Products Inventory Draws Send Prices Higher
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