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Weekly Crude Inventory Data Shows Draw Of 2 Million Barrels

Sep. 30, 2020 8:24 PM ET
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  • Crude Inventory: -1.98M Barrels vs +456K Expected.
  • Gasoline: +683K vs. -1.37M Expected.
  • Distillate: -3.18M vs. -1.37M Expected.

According to the US EIA, crude stockpiles fell by about 2 million barrels last week, defying traders' expectations for a build.

Important to note was the rise in exports by nearly 500,000 barrels per day from the previous week.

Eight of the previous nine weeks of inventories reported by the EIA had seen drawdowns.

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