A Surprise 237,000 Barrel Draw in Domestic Inventories Sees a Rise in Oil Prices
Analysts were expecting an increase of 3.7 million barrels.
Oil prices are rebounding after a surprise draw in domestic crude inventories of 237,000 barrels, according to the U.S. Energy Information Administration. The decline in stockpiles stunned analysts' forecasts calling for an increase of 3.7 million barrels. The draw was narrower than the 531,000-barrel draw the American Petroleum Institute reported late Tuesday.
This article was written by a staff member of TheStreet.
