Energy Up After Inventory Report -- Energy Roundup

Features Dow Jones Newswires

Shares of energy producers rose alongside oil futures after a U.S. inventory report showed depleted stockpiles.

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The U.S. Energy Information Administration said crude-oil inventories fell 3.3 million barrels last week, roughly in line with the 3.1 million-barrel drop anticipated by analysts and traders surveyed by The Wall Street Journal.

In a development that quelled fears about gasoline demand, gasoline stockpiles fell by 1.2 million barrels, exceeding the 500,000-barrel drop expected by analysts. "There was nothing in the report that said we need to sell this market," said Mark Anderle, director of supply and trading at TAC Energy, as reported earlier.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

August 23, 2017 16:38 ET (20:38 GMT)