Investing.com — Oil stockpiles declined for the sixth-straight week, according to the Energy Information Administration.
stocks plunged 9.3 million barrels last week, according to the latest EIA data. That compares to an expected draw of 1.9 million barrels.
Last week the energy sector braced for a hit from Hurricane Laura, which slammed into the U.S. Gulf Coast but caused less damage than feared to the refining and production operations in the region.
Crude stored at , Oklahoma, rose 110,000 barrels.
, the U.S. benchmark, fell 1% Wednesday morning ahead of the data release, at $42.30.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
by : Investing.com