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NewsBreak: Crude Inventories Fell by 6.9M Barrels Last Week: EIA

Published 09/11/2019, 10:33 AM
Updated 09/11/2019, 11:21 AM
© Reuters.
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Investing.com - U.S. oil stockpiles fell by nearly 7 million barrels last week, according to government data out Wednesday, more than anticipated.

  • The Energy Information Administration (EIA) said oil inventories fell by 6.9 million barrels for the week ended Sept. 6. Analysts were expecting a drawdown of about 2.7 million, according to forecasts compiled by Investing.com.

    • WTI futures rose 0.7% to $57.80 following the report, compared with about $57.60 just before numbers were released. Brent rose about 1% to $62.98.

  • Gasoline inventories slipped by 0.68 million, compared with expectations for a drop of about 0.85 million. Distillate stockpiles rose 2.7 million, compared with forecasts for a slight rise of 0.07 million.

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