Crude Jumps After DOE Confirms Biggest Oil Inventory Draw Since January; Cushing, Gasoline, Distillates Rise

by Tyler Durden
ZeroHedge.com
04/06/2016

Following yesterday’s API data, which showed the biggest draw of 2016 with a 4.6 million reduction in oil inventories, everyone was keenly looking forward to today’s DOE data. Moments ago the DOE indeed confirmed the API data, reporting that in the past week oil inventories declined by 4.949MM, more than the API print, down from last week’s 2.3MM and well below the expected 2.850MM increase. This was the largest draw since the first week of January.

The Rest…HERE

This entry was posted on Wednesday, April 6th, 2016 at 11:52 am and is filed under Economics, Oil. You can follow any responses to this entry through the RSS 2.0 feed.