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The American Petroleum Institute reportedly exhibits a draw of 4.38M barrels of oil in U.S. business stockpiles for the week ending October 13.
Gasoline inventories reportedly present a draw of 1.58M barrels for the week, distillate inventories present a draw of 612K barrels, and stockpiles on the Cushing, Oklahoma, storage hub present a draw of 1M barrels.
The Vitality Info Administration will launch its weekly U.S. petroleum provide report Wednesday morning; on common, analysts forecast the report will present a rise of 400K barrels in business crude oil stockpiles, a lower of 600K barrels in gasoline inventories, and a lower of 1.2M barrels in distillate shares, in response to consensus estimates from a survey by The Wall Road Journal.
November crude oil (CL1:COM) just lately traded at $87.40/bbl after settling Tuesday at $86.66/bbl.
ETF: (NYSEARCA:USO)