US crude stocks fell 9.87 million barrels last week to 373.92 million barrels, the second large draw in two weeks, data released by the US Energy Information Administration showed Wednesday.
Especially bullish for NYMEX crude futures was a draw at the Cushing, Oklahoma, delivery point of 2.69 million barrels. NYMEX crude futures rallied $2.99/barrel on the data, settling at $106.52/b.Platts analysis is here.
Already nearing $107, oil futures are up slightly, but the DOW futures are up "huge."
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