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The American Petroleum Institute reportedly shows a draw of 817K barrels of oil in U.S. commercial stockpiles for the week ending November 24.
Gasoline inventories reportedly show a draw of 898K barrels for the week, distillate inventories show a build of 2.8M barrels, and stockpiles at the Cushing, Oklahoma, storage hub show a draw of 465K barrels.
The Energy Information Administration will release its weekly U.S. petroleum supply report Wednesday morning; on average, analysts forecast the report will show an increase of 900K barrels in commercial crude oil stockpiles, an increase of 100K barrels in gasoline inventories, and a decrease of 800K barrels in distillate stocks, according to consensus estimates from a survey by The Wall Street Journal.
January WTI crude oil (CL1:COM) recently traded at $76.44/bbl after settling Tuesday at $76.41/bbl.
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