EIA Settles Market With Reports of US Oil Inventories Falling ...Middle East

Crude oil inventories in the United States decreased by 3.9 million barrels during the week ending July 11, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The build brings commercial stockpiles to 422.2 million barrels according to government data, which is still 8% below the five-year average for this time of year. The EIA’s data release follows a rocky Tuesday after conflicting API inventory data shook oil bulls to their core, with initial reports on X suggesting that crude oil inventories…

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