US light, sweet crude oil prices were up Apr. 10 on the New York market, with both the May and June contracts settling above $64/bbl following a steep drop in gasoline stocks as reported by the US Energy Information Administration. While crude inventories for the week ended Apr. 5 were up by 7 million bbl from the previous week, news of a gasoline inventories drawdown of 7.7 million bbl—the largest since September 2017—was in sharp contrast to analysts’ expectations of a drop closer to 2 million bbl.

Source: News