Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.
- 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.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.