Oil Prices Rise on Large Crude Inventory Draw ...Middle East

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Oil Prices Rise on Large Crude Inventory Draw
source : OILPRICE ( Middle East ) () 37
Crude oil prices moved higher today after the U.S. Energy Information Administration reported an estimated inventory decline of 6.9 million barrels for the week to August 30. A day earlier, the American Petroleum Institute reported its own inventory estimate, which saw these drop by a sizable 7.4 million barrels in the final week of August. Analysts polled by Reuters had expected a draw of around 1 million barrels. The EIA’s previous report pegged the decline in oil inventories at a modest 800,000 barrels, with mixed changes in fuel inventories.…

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