Link Securities | The US Energy Information Administration (EIA) reported yesterday that US crude oil inventories fell by 7.489 million barrels in the week ending 24 March 2023, their biggest drop since November last year.
Analysts had instead expected a rebound of 0.092 million barrels. Gasoline stocks fell by 2.904 million barrels, above analysts’ expectations for a decline of 1.617 million barrels. Finally, distillate inventories, which include diesel and heating oil, rose by 0.281 million barrels in the week under review, which contrasts with analysts’ forecasts of a decline of 1.455 million barrels.
