US: EIA Crude Oil Stocks fall by 0.91M barrels versus expected 1.237M barrel draw

Joel Frank Independent Analyst

Commercial crude oil inventories in the US fell by 0.910 million barrels in the week ending November 26, a weekly report published by the US Energy Information Administration (EIA) revealed on Wednesday. This was smaller than the expected draw of 1.273 million barrels.

Distillate stocks saw a larger than expected build of 2.16M barrels (forecasts were for a 0.462M barrel build). Gasoline stocks also saw a larger than expected build of 4.029M barrels (forecasts were for a 0.029M barrel build).

Market Reaction

WTI fell slightly in wake of the bearish inventory numbers, with WTI now trading just above $68.00 versus pre-data levels above $68.50.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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