07 Sep, 23

Large Crude Draw Lifts Oil Prices

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Crude oil prices ticked up today, after the U.S. Energy Information Administration reported an inventory draw of 6.3 million barrels for the week to September 1. This compared with a massive decline of 10.6 million barrels for the previous week, which brought inventories to the lowest in eight months. In fuels, the EIA estimated an inventory decline in gasoline and a build in middle distillates. In gasoline, the EIA reported an inventory draw of 2.7 million barrels for the last week of August, which compared with a modest 200,000-barrel stock draw…

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