- Oil stocks in the United States fell less than expected last week.
- WTI continues to trade in positive territory above $ 47.50.
The change in crude oil stocks in the US. was -0.6 million barrels in the week ending Dec. 18, the weekly report released by the US Energy Information Administration (EIA) revealed on Wednesday.The analyst estimate was a decrease of 3.1 million barrels.
Market reaction
Crude oil prices did not show an immediate reaction to this report and the barrel of West Texas Intermediate (WTI) was last seen gaining 1.8% on the day at $ 47.60.
Additional conclusions
“Inputs from US crude refineries averaged 14.0 million barrels per day for the week ended December 18, 2020, which was 169,000 barrels per day less than the previous week’s average.”
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