WTI crude near $89.50 as U.S. inventories drop 3.186M barrels
pre-market1 source ↓machine-written, see hownot a recommendation
- a barrel
- $89.50
- for the week
- 3.186 million barrels
- the week ending
- 2 Oct 2023
- reduction
- 784,000-barrel
- stocks rose
- 444,000 barrels
West Texas Intermediate crude traded near $89.50 a barrel as U.S. crude inventories fell by 3.186 million barrels for the week ending 2 Oct 2023. This decline, combined with a 784,000-barrel reduction in the Strategic Petroleum Reserve, signals tightening supply. Meanwhile, Cushing stocks rose by 444,000 barrels to 24.7 million barrels.
• Gasoline stocks increased by 382,000 barrels
• Distillate inventories fell by 42,000 barrels
• U.S. crude production rose by 24,000 barrels per day to 14 million barrels per day
These shifts may influence market sentiment and pricing in the near term.
Not investment advice. For informational purposes only.