Oil prices were unchanged today despite a larger-than-expected crude oil draw. US crude inventories fell by 3.7MM\/bbls, compares to a forecasted draw of about 2MM\/bbls. Gasoline and distillate stocks also fell by 4MM\/bbls and 3.6MM\/bbls respectively. “Maybe following the strong price rally this week, investors are a bit cautious on jumping on a strong report,” said UBS analyst Giovanni Staunovo. Prices are still finding support from OPEC+\u2019s decision to voluntarily cut output from May onwards. There has also been some bearish economic data with US job openings in February dropping to the lowest level in nearly two years. WTI traded up $0.10 or 0.1% to close at $80.61. Brent traded up $0.05 or 0.1% to close at $84.99.<\/p>\n\n\n\n
Oil prices were unchanged today despite a larger than expected crude oil draw.<\/p>\n","protected":false},"author":2,"featured_media":8776,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-9176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-petroleum-daily"],"yoast_head":"\n