US OIL INVENTORIES NEGATIVE AND EXCEED EXPECTATIONS
US oil inventories unexpectedly dropped by 2.1 million barrels last week.
Market expectations had predicted an increase of about 1.8 million barrels.
In the previous week, inventories had only decreased by about 0.5 million barrels.
After the report, US West Texas Intermediate crude oil prices dropped 0.6% to $72.29 per barrel.
Oil inventory changes are closely watched because they can impact crude oil prices, affect inflation, and influence industries dependent on oil.
