Domestic oil production remained unchanged at 13.2 million bpd. Strategic Petroleum Reserve has also remained at the previous levels at 351.3 million barrels.
WTI oil moved away from session lows after the release of the EIA report as traders focused on declining gasoline inventories. However, traders should note that the previous report showed that crude inventories increased by 13.86 million, which is bearish for the oil market.
Meanwhile, Brent oil made an attempt to settle above the $82.00 level after the release of the EIA data. At this point, declining gasoline inventories offset the negative impact from rising crude oil inventories.
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