Highlights US crude stocks fall 4.72 million barrels Refinery demand hits four-month high Omicron fears eases as US, UK rule out lockdowns Crude futures settled higher for a second session, propelled by a larger-than-expected US inventory draw and easing pandemic concerns.
NYMEX February WTI settled $1.64 higher at $72.76/b and ICE February Brent climbed $1.31 to settle at $75.29/b. US commercial crude inventories declined 4.72 million barrels to 423.57 million barrels in the week to Dec. 17, Energy Information Administration data showed Dec. 22. The draw pushed stocks more than 8% below the five-year average for this time of year — the tightest since mid-September. The draw exceeded market expectations. American Petroleum Institute data released late Dec. 21 showed US crude stocks fell 3.7 million barrels in the week ended Dec. 17, while analysts S&P Global Platts […]