Crude Oil Inventories Book Huge Drawdown, Cold Hits Distillates
Crude oil inventories drew 7.7 million barrels for the week ended Jan. 10 which was far more than analysts' expectations of a 673,000 barrel drawdown.
Crude oil inventories drew 7.7 million barrels for the week ended Jan. 10, which was far more than analysts' expectations of a 673,000 barrel drawdown. Chicago Energies Options Trader Peter Amandio tells TheStreet's Joe Deaux that it doesn't surprise him that when crude dips near $92 a barrel, inventories take a big dip. Amandio says that distillates, which fell 1 million barrels, should continue to fall as the winter weather blankets the United States.
