U.S. crude supply fell 3.1M barrels last week, API says
Dec. 07, 2021 5:05 PM ETUnited States Oil Fund, LP ETF (USO), CL1:COMBy: Carl Surran, SA News Editor14 Comments
- The American Petroleum Institute reportedly shows a draw of 3.1M barrels of oil for the week ending December 3.
- Gasoline inventories reportedly show a build of 3.7M barrels, distillate inventories show a build of 1.2M barrels and Cushing inventories show a build of 2.4M barrels.
- Data to be released tomorrow from the Energy Information Administration is expected to show crude inventories fell by 1.2M barrels last week, according to S&P Global Platts.
- December WTI crude oil (CL1:COM) recently traded at $71.71/bbl in electronic trading after settling today at $72.05/bbl.
- USO +0.4% after-hours.