RE: Shorts22 Dec 2021 20:47
Oil futures ended higher Wednesday after the Energy Information Administration reported a larger-than-expected drop in U.S. crude inventories. West Texas Intermediate crude for February delivery CL00, 2.39% CLG22, 2.39% closed at $72.76 a barrel on the New York Mercantile Exchange, up $1.64, or 2.3%. The EIA said crude inventories fell by 4.7 million barrels in the week ended Dec. 17. Analysts surveyed by S&P Global Platts had forecast a drop of 3.9 million barrels, while sources said the American Petroleum Institute late Tuesday reported that stocks had fallen by 3.7 million barrels.
Not a good time to short petrofac me thinks...