U.S. commercial crude oil inventories fell more than expected last week International oil prices rose significantly

Due to the positive impact of the significant decline in US commercial crude oil inventories last week, the price of international crude oil futures rose in the overnight market, fluctuated higher in early trading on November 30, and then consolidated in a narrow range, and international oil prices rose
significantly at the close.

Light crude futures for January 2023 delivery rose $2.
35, or 3.
01%,
to settle at $80.
55 a barrel on the New York Mercantile Exchange by the close of the day.
London Brent crude futures for January 2023 delivery rose $2.
40, or 2.
89%, to settle at $85.
43 a barrel
.

Data released by the US Energy Information Administration on the 30th showed that the US commercial crude oil inventory last week was 419.
1 million barrels, a significant decrease of 12.
6 million barrels from the previous month, a decline greater than market expectations
.
Over the same period, U.
S.
gasoline and distillate inventories increased by 2.
8 million barrels and 3.
5 million barrels, respectively, while propane and propylene inventories increased by 1.
6 million barrels
month-on-month.
U.
S.
commercial oil inventories, which include commercial crude, refined products, propane and propylene, fell by 8.
8 million barrels
month-on-month last week.

The data also showed that U.
S.
refineries processed an average of 16.
6 million barrels per day last week, up 228,000 barrels month-on-month; the average operating rate of U.
S.
refineries last week was 95.
2%, up from 93.
9% the previous week; U.
S.
net crude imports averaged 1.
089 million barrels per day last week, down 1.
732 million barrels
month-on-month.

It is worth noting that commercial crude oil inventories in the Cushing region of the United States were 24.
3 million barrels last week, down 400,000 barrels month-on-month; U.
S
.
strategic crude oil reserve inventories were 389 million barrels last week, down 1.
402 million barrels month-on-month, while U.
S.
crude oil production remained unchanged at 12.
1 million barrels per day last week.