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NewsBreak: Crude Inventories Fell by 6.9M Barrels Last Week: EIA

Investing.com

Investing.com - U.S. oil stockpiles fell by nearly 7 million barrels last week, according to government data out Wednesday, more than anticipated.

The Energy Information Administration (EIA) said oil inventories fell by 6.9 million barrels for the week ended Sept. 6. Analysts were expecting a drawdown of about 2.7 million, according to forecasts compiled by Investing.com.

WTI futures rose 0.7% to $57.80 following the report, compared with about $57.60 just before numbers were released. Brent rose about 1% to $62.98.

Gasoline inventories slipped by 0.68 million, compared with expectations for a drop of about 0.85 million. Distillate stockpiles rose 2.7 million, compared with forecasts for a slight rise of 0.07 million.

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