WTI Holds Steady After U.S. Crude Stocks Fall 3.06 Million Barrels
Photo: TokenPost
West Texas Intermediate (WTI) crude moved little after U.S. crude inventories posted a third consecutive weekly decline, as traders weighed recovering Middle East exports against threats to shipping. U.S. crude inventories fell by 3.06 million barrels. Distillate stocks increased 1.68 million barrels but remained at a record low for this time of year. Gasoline stocks fell 2.95 million barrels, while inventories at Cushing, Oklahoma, rose 987,000 barrels. An earlier estimate put crude’s weekly decline at 4.93 million barrels, above the 3.06 million-barrel decrease. WTI traded around $98 before the government data and changed little after its release.
Source: TokenPost
