Crude Oil supplies increase sharply in the US
In the past week the US crude oil supplies have risen by almost 2 million barrel.
The American Petroleum Institute reportedly showed an unexpected build of 1.97 million barrels of oil for the week ending December 11th. Gasoline supplies reportedly show a build of 828K barrels, Distillate supplies show a build of 4.76M barrels, and Cushing supplies show a drawing of 165K barrels. Data released tomorrow by the Energy Information Administration is expected to show that crude oil inventories fell 1.9 million barrels over the past week, according to analysts polled by S&P Global Platts. January WTI (CL1: COM) was last at $ 47.55 / bbl in electronic trading, after closing at $ 47.62 / bbl today.