Entering text into the input field will update the search result below

U.S. crude supply fell 1.6M barrels last week, API says

Aug. 24, 2021 5:05 PM ETUnited States Oil Fund, LP ETF (USO) ETF, CL1:COMBy: Carl Surran, SA News Editor15 Comments

Close-up of engineer using tablet near oil refinery.
SimonSkafar/iStock via Getty Images

  • The American Petroleum Institute reportedly shows a draw of 1.62M barrels of oil for the week ending August 20.
  • Gasoline inventories reportedly show a draw of 985K barrels, distillate inventories show a draw of 245K barrels

Recommended For You

Comments (15)

Have a tip? Submit confidentially to our News team. Found a factual error? Report here.

Consumption season,demand support.oil stocks will down.
9 out 10...down
SuperAwesomeDude profile picture
Oil stocks are a steal. If you compare current prices for KOS/GTE to when WTI hit high of 76 in June, it's 2x returns if we recover year highs by end of year.
bigbenorr profile picture
Gas is so freaking cheap right now......I've just been going on drives for the hell of it. People have no idea what is coming......
@bigbenorr I love filling up at the gas station. Doing my part for demand 😌
bigbenorr profile picture
@Ryan Medford Hell yeah! Also keeping up that carbon footprint!
@bigbenorr Careful though, they may send Captain Planet after you
Product and storage draws means tighter supply and higher prices... I just wish oil and gas equities would start seeing more upside. I think MRO management needs to kick in and start using that $1.3BB share buyback allotment.
Draws every week and WTI still not $75+. Surprising to me.
BeneGesserit profile picture
@Desmater Good. It means the under investment persists longer and the eventual bull market to get supply/demand back in line is steeper.
Where are all those crude and crude products going? Must be a hole in the tank!
bet727 profile picture
@Ruffdog Try driving and you will see many vehicles on the road and lines at the next gas station. Also, full A/C use more fuel than A/C with a few people in them. Plastics.
Jeff Pokorny profile picture
Gotta like that....

Related Stocks

SymbolLast Price% Chg
To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.