US commercial stockpiles of crude oil fell 4.2 million barrels last week to 317.6 million barrels as imports slumped, according to the Energy Information Administration, exceeding expectations among analysts of a 100,000 barrels draw.
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Crude Price Jumped On Drop in Crude Inventories
Crude oil prices rose on Wednesday after a US government report showed...
Crude oil prices rose on Wednesday after a US government report showed an unexpectedly large drop in crude inventories last week in the world's largest energy consumer.
US light sweet rose 85 cents to $57.35 a barrel, bouncing from a low of $55.72 while London crude was up 88 cents to $55.20 a barrel.
US commercial stockpiles of crude oil fell 4.2 million barrels last week to 317.6 million barrels as imports slumped, according to the Energy Information Administration, exceeding expectations among analysts of a 100,000 barrels draw.
US commercial stockpiles of crude oil fell 4.2 million barrels last week to 317.6 million barrels as imports slumped, according to the Energy Information Administration, exceeding expectations among analysts of a 100,000 barrels draw.
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