Crude inventories in the US dropped by 5.241 million barrels in the week ended June 4th, following an 5.08 million decrease in the previous week and compared with analysts’ estimates of a 3.5 million decline, according to the EIA Petroleum Status Report.
Cushing Crude Oil inventories dropped to 0.165 million barrels, following a 0.784 million barrels increase from last week.
Gasoline inventories rose by 7.046 million barrels, following a 1.5 million barrels advance in the prior period and above analysts’ expectations of 0.698 million barrels increase.
US distillate inventories rose by 4.412 million barrels after increasing 3.72 million barrels in the previous week.
The publication of today's report did not have a significant impact on the oil prices. WTI Oil (OIL.WTI) continues to trade around the $70,20 level. Source: xStation5