NewsBreak: Oil Inventories Fell by 3.7M Barrels Last Week - API

NewsBreak: Oil Inventories Fell by 3.7M Barrels Last Week - API

Dec 03, 2019

U.S. crude stockpiles dropped last week, according to an estimate from the American Petroleum Institute released Tuesday.

The API said crude inventories dropped by 3.72 million for the week ended Nov. 29.

Analysts expect that the Energy Information Administration will report a draw of 1.73 million barrels when it issues numbers tomorrow morning. The EIA numbers are due at 10:30 AM ET (15:30 GMT).

WTI futures were up 0.7% at $56.37 following the release, after settling slightly higher at $56.10 on Tuesday in regular trading.

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