US crude inventories post a sharp draw, signaling stronger fuel demand as oil prices rally
US crude oil inventories fell by 4.5 million barrels in the week ended April 17, data from the American Petroleum Institute (API) showed on April 21, marking a sharp draw after three consecutive weeks of gains. 
Gasoline inventories retreated by 5.2 million barrels, while distillate stocks, including diesel and heating oil, decreased by 4.6 million barrels over the same period.
The data point to stronger fuel demand in the world’s largest economy. Official figures from the Energy Information Administration (EIA) are due on April 22, with expectations for a 1 million-barrel decline in crude stocks.
Brent crude futures for June rose 3.14%, or $3, to $98.48 a barrel after hitting $99.95 earlier in the session, while US West Texas Intermediate crude for May delivery (expiring April 22) gained 2.81%, or $2.52, to settle at $92.13.
US crude inventories post a sharp draw, signaling stronger fuel demand as oil prices rally
US crude oil inventories fell by 4.5 million barrels in the week ended April 17, data from the American Petroleum Institute (API) showed on April 21, marking a sharp draw after three consecutive weeks of gains.
Gasoline inventories retreated by 5.2 million barrels, while distillate stocks, including diesel and heating oil, decreased by 4.6 million barrels over the same period.
The data point to stronger fuel demand in the world’s largest economy. Official figures from the Energy Information Administration (EIA) are due on April 22, with expectations for a 1 million-barrel decline in crude stocks.
Brent crude futures for June rose 3.14%, or $3, to $98.48 a barrel after hitting $99.95 earlier in the session, while US West Texas Intermediate crude for May delivery (expiring April 22) gained 2.81%, or $2.52, to settle at $92.13.
