The decline at the key U.S. pricing hub was steeper than the prior week's 0.238M-barrel draw, pointing to tighter inventory conditions.
Cushing crude inventories fell by 0.737 million barrels last week, a sharper draw than the previous week's 0.238 million-barrel decline. The move suggests tighter supply at Cushing, the main U.S. crude oil pricing and storage hub that underpins WTI benchmark pricing.