Oil Jumps On Significant Crude Inventory Draw ...Middle East

OILPRICE - Economy
Oil Jumps On Significant Crude Inventory Draw
source : OILPRICE ( Middle East ) () 14
Crude oil prices rose further today after the Energy Information Administration reported an oil inventory draw of 6.1 million barrels for the week to December 25. A day earlier, the American Petroleum Institute also helped boost prices by estimating a crude oil inventory decline of 4.785 million barrels for the same week. Last week, the EIA had estimated a modest inventory decline, to the tune of 600,000 barrels, which nevertheless helped prices continue higher as it coincided with positive vaccine updates that traders linked to an anticipated…

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