Crude Oil Jumps After API Reports Significant Inventory Draw

While API and DOE data has not exactly been consistent recently, the fact that API reported a huge 6.7 million barrel inventory draw for the last week is significant. Of course, all eyes will be focused on production data tomorrow but for now, WTI prices are up at the highs of the day.

WTI loves the news...

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For some context on the size of the draw...

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Charts: Bloomberg