Prices of the barrel of the American benchmark for the sweet light crude oil have left the area above the $52.00 handle despite the EIA reported another draw in crude oil inventories during the week ended on October 13, this time by 5.731 million barrels, more than initially forecasted.
Additional data saw weekly distillates stocks up by 0.528 million barrels and gasoline inventories increasing by 0.908 million barrels, coming in below expectations.
Further out, supplies at Cushing rose by 0.202 million barrels.
In the meantime, the barrel of WTI is up for the third consecutive session and flirting with 3-week tops, with the next target now being September’s top at $52.86
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