US crude oil inventories plunged by 11.1 million barrels in the week ended January 30th, 2025, extending a 0.25 million-barrel draw in the prior week. The decrease sharply contrasted with expectations for a 0.7 million barrel build to mark the sharpest decline since August 2023
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US Crude Oil Inventories Drop the Most Since August 2023
US crude oil inventories plunged by 11.1 million barrels in the week ended January 30th, 2025, extending a 0.25 million-barrel draw in the prior week. The decrease sharply contrasted with expectations for a 0.7 million barrel build to mark the sharpest decline since August 2023