The change in crude oil stocks in the US was -6.6 million barrels in the week ending February 5, the weekly report released by the US Energy Information Administration revealed on Wednesday.The analyst estimate was an increase of 0.9 million barrels. .
Market reaction
A barrel of West Texas Intermediate (WTI) rose modestly after this report and was last seen gaining 0.15% on the day at $ 58.45.
Additional conclusions
“Inputs from US crude refineries averaged 14.8 million barrels per day during the week ending February 5.”
“Crude oil imports from the United States averaged 5.9 million barrels per day last week, down 0.7 million barrels per day from the previous week.”
“Total products supplied during the last four-week period averaged 19.5 million barrels per day, 5.8% less than in the same period last year.”
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