US Private Inventory Data (bbls): Crude -1.7mln (exp. +1.4mln), Distillate -2.3mln (exp. -0.9mln), Gasoline -1.8mln (exp. -4.5mln), Cushing -0.4mln

US Private Inventory Data (bbls): Crude -1.7mln (exp. +1.4mln), Distillate -2.3mln (exp. -0.9mln), Gasoline -1.8mln (exp. -4.5mln), Cushing -0.4mln.

The recent inventory data indicates a significant draw in crude oil stocks, contrary to expectations of an increase, which could tighten supply dynamics and support prices. Additionally, the sharp reductions in distillate and gasoline inventories further suggest robust demand, potentially indicating bullish trends for crude and refined products. This data may also have implications for energy prices moving forward, particularly WTI and Brent benchmarks.