# Oil Jumps as Industry Data Shows U.S. Crude Stock Monster Draw - Bloomberg

> An American Petroleum Institute report showed U.S. crude inventories fell by 11.2 million barrels in the latest week, roughly triple the Bloomberg survey estimate. Oil futures rose from a three-year high after the report.

- Date: 2018-01-09 · published 2018-01-09T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/67152-oil-jumps-as-industry-data-shows-u-s-crude-stock-monster-draw-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A draw this large, the biggest for the time of year since 1999 if confirmed, points to tighter U.S. crude supply and supports energy input costs for feed and livestock operations.

## Read by commodity

- WTI: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-08-22 | [Oil surges after data shows steep drop in US crude inventories](https://feedsoft.ai/events/63703-oil-surges-after-data-shows-steep-drop-in-us-crude-inventories.md) | +1.8% | +5.6% |
| WTI | 2024-12-28 | [Oil News: Crude Prices Climb on U.S. Stock Draw and China Demand Outlook](https://feedsoft.ai/events/27121-oil-news-crude-prices-climb-on-u-s-stock-draw-and-china-demand-outlook.md) | +4.2% | +4.2% |
| WTI | 2022-09-28 | [Oil prices rise on surprise drop in U.S. crude, fuel stocks](https://feedsoft.ai/events/39763-oil-prices-rise-on-surprise-drop-in-u-s-crude-fuel-stocks.md) | +10.1% | +9.3% |
| WTI | 2018-06-27 | [U.S. oil hits 3.5-year high after inventory draw](https://feedsoft.ai/events/8784-u-s-oil-hits-3-5-year-high-after-inventory-draw.md) | +0.7% | -4.2% |
| WTI | 2024-06-20 | [Oil prices rise on US crude draw; jobs data feeds rate cut hopes](https://feedsoft.ai/events/29926-oil-prices-rise-on-us-crude-draw-jobs-data-feeds-rate-cut-hopes.md) | -0.7% | +1.7% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2018-01-09/oil-extends-gains-above-62-as-u-s-crude-stockpiles-seen-easing

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.