Oil prices extend their gains after the announcement of a plunge in crude reserves in the United States last week…
(Boursier.com) — Oil prices are increasing their gains after the announcement of a plunge in crude oil reserves in the United States last week. According to the US Department of Energy, domestic crude inventories, excluding strategic reserves, fell by 12.5 million barrels during the week ended May 19 to 455.2 mb. The consensus was for a drop of 0.9 mb. Gasoline inventories fell by 2.1 mb (-0.7 mb expected), and those of distilled products fell by 0.6 million barrels (+0.1 mb consensus).
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