Weekly private inventory data (bbls): Crude -8.1mln (exp. -2.8), Gasoline -6.1mln (exp. -1.7mln), Distillates -4.6mln (exp. -2mln), Cushing -1.1mln
Context
The latest private inventory data shows significant draws in crude oil, gasoline, and distillates, all exceeding expectations. This larger-than-expected reduction in inventories suggests tighter supply conditions, which could support oil prices and influence market sentiment toward energy sectors amid ongoing demand concerns.
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