U.S. crude oil inventories decreased by 191,000 barrels, falling from the previous week’s level of 3,715,000 barrels to 3,524,000 barrels. This marks a 5.14% decline in stock levels, indicating a reduction in crude oil supply.
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The actual decrease in crude oil stocks was significantly larger than the analyst estimate of a 120,000-barrel reduction. This unexpected drop is likely to boost energy sector stocks, as reduced supply can lead to higher oil prices. The market impact may be short-term, driven by immediate sentiment shifts in energy prices and related equities.