The EIA said Thursday that crude oil stockpiles fell by 6.9 million barrels in the week ended Dec. 22 to 436.6 million barrels. Reported levels for the previous week were 443.7 million barrels, indicating a decline of 7.1 million barrels. Flynn recalled that the EIA postponed its weekly report in early November to update its systems. Dennis Kissler, senior vice president at BOK Financial, saw no issue with the discordance in the EIA's data report. Stocks at Cushing rose by 1.5 million barrels last week to 34 million barrels, the EIA reported.

Source: Wall Street Journal December 29, 2023 20:30 UTC