FX.co ★ US Crude Oil Inventories Drop the Most Since August 2023

In the week ending January 30th, 2025, U.S. crude oil inventories experienced a significant reduction of 11.1 million barrels, following a modest drawdown of 0.25 million barrels the previous week. This substantial decrease notably diverged from the anticipated increase of 0.7 million barrels and represents the most pronounced drop since August 2023.