AGI – IOil extends gains to highs for over two years after the above-expected decline in US weekly inventories. In particular, WTI rose 1.30% to 73.80 dollars a barrel, while Brent rose 1.26% to 75.75 dollars.
Weekly oil inventories in the US fell beyond expectations of 7.61 million barrels in the week ending June 18, at 459.06 million. Analysts’ estimates predicted a decrease of 4.1 million barrels.
Petrol stocks are falling
Stocks of gasoline amounted to 240.05 million barrels, 2.930 million less than last week (+0.8 million according to analysts). Inventories of refined fuel instead settled at 137.945 million barrels, up by 1.754 million barrels compared to last week (+0.6 million the consensus).