Investing.com - Crude stocks posted a surprise drop last week, the American Petroleum Institute (API) said late Wednesday, down 884,000 barrels, compared to a gain of 3.475 million barrels expected at the end of last week and breaking a trend of six-straight builds.
Gasoline inventories dipped 893,000 barrels, compared to the decline of 888,000 barrels seen and distillates dropped a sharp 4.23 million barrels, more than the drop of 483,000 barrels expected.
The oil storage hub of Cushing, Oklahoma, saw a draw of 1.73 million barrels, the sixth decline in seven weeks.