The Energy Information Administration on Wednesday reported that U.S. commercial crude inventories fell by 2.1 million barrels for the week ended Sept. 15....
The Energy Information Administration on Wednesday reported that U.S. commercial crude inventories fell by 2.1 million barrels for the week ended Sept. 15. Strategists at Macquarie had forecast a 700,000-barrel weekly decline. The EIA report also revealed supply declines of 800,000 barrels for gasoline and 2.9 million barrels for distillates. Macquarie strategists had forecast weekly inventory declines of 2.
9 barrels for gasoline and 1.6 million barrels for distillates. Crude stocks at the Cushing, Okla., Nymex delivery hub fell by 2.1 million barrels for the week, the EIA said. Oil futures traded lower, with October West Texas Intermediate crude CLV23, -0.22% down 20 cents, or 0.2%, at $91 a barrel on the New York Mercantile Exchange, ahead of the contract’s expiration at the end of the session. Prices traded at $91.25 before the supply data.
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