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EIA data showed US crude inventories fell 4.2 million barrels to 416.8 million in the week ended December 20, more than the expected draw. Cushing stocks fell to 22.7 million barrels, their lowest since October 2023, and Gulf Coast stocks were at their lowest since September 2023.
Larger-than-expected crude and Cushing draws support crude prices, which flow through to diesel and energy costs for feed producers.
admin.hydrocarbonprocessing.comDec 30, 2024After 131 past bullish report events, Crude Oil (WTI) moved a median +1.2% over 5 sessions (60% higher; middle half -1.3% to +3.4%), and +2.9% over 20.
After 116 past bullish report events, Crude Oil (Brent) moved a median +1.3% over 5 sessions (66% higher; middle half -1.0% to +3.1%), and +2.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
