WTI Draws Support as US Crude Stocks Fall 400K Barrels
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EIA data for the week ending September 4 showed US crude inventories declining by 400,000 barrels, pulling commercial stockpiles to 424.1 million barrels. That level now sits in line with the seasonal five-year average, removing a prior overhang that had pressured sentiment.
The draw followed a similar bearish-for-bulls signal from API a day earlier, but the confirmed government print reinforced a tightening narrative. With Brent prices surging on Middle East supply risk, WTI has tracked the move higher, and traders are watching whether inventory draws continue into next week's report to confirm the trend.