Crude oil and natural gas futures rallied on Thursday after the U.S. government reported the latest domestic storage data.
According to the Energy Information Administration (EIA), U.S. crude oil inventories increased by 7.648 million barrels for the week ending Feb. 17, down from the previous week’s build of 16.283 million barrels. This was also higher than the market estimate of 2.083 million barrels and represented the ninth consecutive weekly jump in domestic stocks.
