Crude Stockpiles Fell 5.1 Million Barrels: API By Investing.com – Investing.com

Investing.com — Crude oil stockpiles fell far more than expected last week, according to oil industry data.

dropped 5.1 million barrels, against expectations for a draw of 900,000 barrels, according to the American Petroleum Institute. It’s the second big draw in a row. During the week before, crude inventory fell 8 million barrels. Weekly government data will be released later this week. 

Analysts watch inventory levels to measure demand for oil. The price of , the U.S. crude benchmark, rose 3.65%, to $41.77. , the international benchmark, rose 3.8%, to just over $44.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.