The weekly report published by the U.S. Energy Information Administration showed that commercial crude oil inventories in the U.S. decreased by 9.5 million barrels in the week ending July 5.
With the initial market reaction, crude oil gained traction and the barrel of West Texas Intermediate rose above the $59 mark. As of writing, the WTI was trading at $59.45, adding nearly 2% on a daily basis. Below are some key takeaways from the publication.
"U.S. crude oil imports averaged 7.3 million barrels per day last week."
"Gasoline production increased last week, averaging 10.4 million barrels per day. Distillate fuel production increased last week, averaging 5.4 million barrels per day."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.