US “Cushing” oil stocks fell to the lowest level in 3 years

Stocks of crude oil in the US “Cushing” have fallen to the lowest level in the last 3 years.

Data from the US Energy Information Administration showed that gasoline supplies fell to the lowest level in two years, as inventories in the largest commercial storage center in the United States, Cushing, Oklahoma, fell as low as in three years.

Crude oil inventories in the United States fell by 431,000 barrels last week to 426 million barrels, while expectations were for an increase of 1.9 million barrels.

As for gasoline inventories, they fell by 5.4 million barrels to their lowest level since November 2019.

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