14-06-2018 10:45AM
WTI crude oil prices edged higher on Wednesday as data revealed a massive draw in U.S. crude supplies regardless of a progress expansion in output.
According to data from the Energy Information Administration (EIA) -Inventories of U.S. crude dropped by 4.143 million barrels for the week ended June 8, well above expectations for a draw of 1.440 million barrels.
Crude imports dropped 247,000 barrels per day (bpd) last week to 8.1 million barrels per day (bpd), while Experts rose 300,000 bpd.
Gasoline inventories dropped by 2.271 million barrels, perplexing expectations for an increase of 0.443 million barrels, while supplies of distillate surprisingly dropped by 2.101 million barrels, topping expectations for a build of 0.200 million barrels.
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