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Brent crude rises towards session highs after EIA data replicates API draw
The usual weekly oil market inventory from the US EIA has been released a short while ago and that data not only replicated the draw on crude stocks seen from the API last night, it exceeded it and by some margin too. US stocks of crude saw a draw of 6.36 million barrels, where the markets had expected a build of around 1.15 million barrels. Prior to this release the price of June Brent had been languishing around $88 per barrel. This news has sent it close to session highs, currently trading at $88.45
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