Oil inventory Down 6.8 Million Barrels: API

© Reuters.

Investing.com — Oil inventory fell 6.8 million barrels last week, according to the American Petroleum Institute.

The week’s trend nearly reverses the prior week’s 7.5 million build in crude stockpiles and beat expectations for a draw of 1.2 million barrels.

The industry’s report comes just before Wednesday’s release of weekly government data. The expectation is for a build of 357,000 barrels after an increase of 4.9 million barrels the previous week.

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