Group 1 - Commercial crude oil stocks decreased by 9 million barrels last week, contrary to analysts' expectations of an increase by 1.1 million barrels [1]

Core Insights - Commercial crude oil stocks decreased by 3.5 million barrels, indicating a tightening supply in the market [1] - Current crude oil stocks are approximately 4% below the five-year average for this time of year, suggesting a potential upward pressure on prices due to lower inventory levels [1]

Commercial crude oil stocks fell by 1.3 million barrels to 424.4 million barrels last week as exports increased and refineries stepped up their capacity use, said the U.S. Energy Information Administration. ...