U.S. crude oil stockpiles fell more than expected to their lowest levels since October 2018, but gasoline inventories surged due to weak demand, the Energy Information Administration said on Wednesday.
fell by 4.6 million barrels in the week to Jan. 7 to 413.3 million barrels, compared with analysts' expectations in a Reuters poll for a 1.9 million-barrel drop.
Gasoline product supplied fell last week to 7.9 million barrels per day, its lowest level since February 2021. The four-week moving average dropped to 8.7 million bpd.
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