US crude oil inventories fall, sending prices higher

Source: CNBC
© Reuters
The US government announced an unexpected decline in crude inventories on Wednesday, sending oil prices higher. According to the Energy Information Administration, US crude oil stocks dropped by 4.9 million barrels to 529.9 barrels in the previous seven days. WTI added almost $1.5 and Brent grew around $1.2, trading at $37.34 and $39.11 respectively by 14:45 GMT on the NYMEX.
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