The U.S. Energy Information Administration (EIA) said crude oil inventories in the United States fell by nearly 9 million barrels. The figure points to a significant draw and has renewed market focus on U.S. supply trends.
A drop of that scale is typically seen as an important signal for energy markets, as it can influence price expectations and short-term trading sentiment.
At the time of publication, OilPrice.com data showed WTI Crude at $97.89, up $2.80 or 2.94%, while Brent Crude was at $105.9, down $0.18 or 0.17%.
EIA inventory reports are closely watched by market participants because they help gauge the current balance of oil supply and demand in the United States.
