U.S. crude supply fell 879K barrels last week, API says

Seeking Alpha2021-08-04
  • The American Petroleum Institute reportedly shows adraw of 879K barrelsof oil for the week ending July 30.
  • Gasoline inventories reportedly show a draw of 5.75M barrels, distillate inventories show a draw of 717K barrels and Cushing inventories show a build of 659K barrels.
  • Data to be released tomorrow from the Energy Information Administration is expected to show crude inventories fell by 4M barrels last week, according to S&P Global Platts.
  • September crude oil (CL1:COM) recently traded at $70.23/bbl in electronic trading after settling today at $70.56/bbl.
  • United States Oil Fund -0.2% after-hours.
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