US Crude oil futures down $0.11 to $51.36

Draw down of inventories don’t have an upside impact today
The US weekly inventory data showed that US crude oil inventories had a larger than expected drawdown of -4432K vs -2000K estimate.  The higher draw down should have sent prices higher. It did initially but when the price could not get above earlier day highs, the buyers on the data exited, and the price wanders down to new lows.