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EIA data showed U.S. crude inventories fell 7.6 million barrels in the week to July 7, far more than the 2.9 million barrel draw analysts expected. Cushing stocks dropped to their lowest since November 2015, and gasoline demand remained weak.
A larger-than-expected crude draw signals tighter U.S. supply and supports prices, though weak gasoline demand limits the rally.
hydrocarbonprocessing.comJul 1, 2017After 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.
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.
