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U.S. crude supply fell 8.3M barrels last week, API says

Jul. 14, 2020 5:10 PM ETCrude Oil Futures (CL1:COM), USOUSO, CL1:COMBy: Carl Surran, SA News Editor19 Comments
  • The American Petroleum Institute reportedly shows a draw of 8.32M barrels of oil for the week ending July 10.
  • Gasoline inventories reportedly show a draw of 3.61M barrels, distillate inventories show a build of 3.03M barrels and Cushing inventories show a build of 548K barrels.
  • Data to be released tomorrow from the Energy Information Administration is expected to show crude inventories fell by 2.1M barrels last week, according to analysts polled by S&P Global Platts.
  • August WTI (CL1:COM) recently traded electronically at $40.46/bbl after settling today at $40.29/bbl.
  • USO +0.5% after-hours.

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