API Crude Inventories Plunge, Surpassing Estimates
The American Petroleum Institute (API) reported a significant weekly drawdown in U.S. crude oil stocks, comfortably exceeding market expectations. This sharper-than-anticipated decline indicates tightening supply conditions, providing a potential catalyst for upward price momentum in global energy markets. Analysts are now closely monitoring whether this trend persists as traders adjust their positions ahead of official government inventory data.