US oil contracts rise after inventories fell to their lowest level in 19 years

US oil futures rose more than $ 1 to $ 72.17 a barrel, following a decline in strategic crude oil inventories.

And data from the US Energy Information Administration showed on Wednesday that crude oil inventories in the US Strategic Oil Reserve fell last week to their lowest level since November 2002.

The government agency said the crude oil stocks in Strategic oil reserve It dropped to 596.4 million barrels, according to “Reuters”.

He added that U.S. commercial oil inventories fell last week, while gasoline and distillate inventories rose, noting that crude oil inventories fell by 4.7 million barrels during the week ending December 17 in 423.6 million barrels, compared to the expectations of analysts interviewed by Reuters, which indicated a decrease in capacity of 2.7 million barrels.

Stocks of crude oil at the delivery hub in Cushing, in Oklahoma, they rose 1.5 million barrels last week. Gasoline stocks have increased by 5.5 million barrels in the past week to reach 224.1 million barrels, while an increase of 467,000 barrels is expected.

And the stocks of distillates, which include diesel and fuel oil, increased by 396 thousand barrels to 124.15 million barrels, compared to expectations for an increase of 33 thousand barrels.

The Energy Information Administration said U.S. net imports of crude oil increased by 489,000 barrels per day last week to 3.32 million barrels per day.

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