U.S. crude stockpiles fell unexpectedly in the week ending Jan. 28, according to data released Wednesday by the Energy Information Administration (EIA).
In particular, according to EIA data, US crude stockpiles fell by 1 million barrels last week, contrary to the estimates of analysts in a poll by S&P Global Platts who expected stockpiles to increase by 1.1 million barrels.
The American Petroleum Institute on Tuesday, according to sources, also spoke of a reduction in inventories by 1.6 million barrels.
The EIA data also showed a decrease of refined products by 2.4 million barrels, higher than the estimates that spoke of a decrease of 1 million barrels.
On the other hand, according to the EIA, US gas stocks rose last week, which increased by 2.1 million barrels. Analysts expected an increase, but smaller by 1.7 million barrels.
As for stocks at the Cushing crude delivery hub, according to EIA data, they fell by 1.2 million barrels last week.
Source: Capital
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