WIF falls below $0.2
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BUZZ - Falling oil prices ease concerns over fuel costs, US airline stocks rise
U.S. commercial crude oil inventories have declined for five consecutive weeks, while diesel inventories have fallen below 100 million barrels, reaching their lowest level since 2003.
EIA data shows that U.S. commercial crude oil inventories fell by 865,000 barrels last week to 409.8 million barrels, about 4% below the five-year seasonal average. The market had previously expected a decrease of around 200,000 barrels. Distillate fuel (including diesel and heating oil) inventories decreased by 3.6 million barrels to 99.3 million barrels, 13% below the five-year average. The market had previously expected a decline of only around 1 million barrels, making the actual reduction much greater than anticipated.
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