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Sizeable Draw on Crude Stocks Relative to Expectations

OIL
  • Headline crude stocks a very sizeable draw at 8mln bbls vs. an exp. build of 3.1mln bbls - so a significant surprise vs. market consensus.
  • Gasoline stocks broadly inline with consensus at draw of 761k bbls vs. Exp. draw of 773k bbls) and distillates a larger draw than forecast at 2.6mln bbls vs. exp. draw of 470k bbls.
  • US SPR falls another 4.7mln bbls to 555.98mln bbls.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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