Weekly crude oil inventories built 1.367 million versus 2.116M estimate | Forexlive

• Crude oil inventories 1.367 million versus 2.116M build estimate
• Gasoline inventories drawdown -4.460 million versus -1.640 drawdown estimate
• Distilates inventories drawdown -4.131 million versus -0.665M drawdown estimate
• Cushing build 0.701M versus 1.458 million build last week

private data late yesterday showed:

• Crude oil build 0.423 million
• Gasoline drawdown -2.800 million estimate
• Cushing build +0.500 million estimate

Crude oil is trading at $80 up around $1.85 on the day. The high price reached $80.10. The high price on Friday extended up to $80.82 which was the highest level going back to November 7, 2023.

Technically, the low-priced today’s stall just ahead of its 200-day moving average at $77.95. The low-priced today reached $78.02.