On April 24th, the US Energy Information Agency (EIA) released its weekly report on the state of oil. The report shows that compared to last week, crude oil inventories have decreased by 6.4 million barrels, and analysts expect crude oil inventories to increase by 1.6 million barrels.

The total gasoline inventory decreased by 600,000 barrels, slightly lower than the analyst's expected decrease of 1.4 million barrels. Compared to last week, the inventory of distilled fuel has increased by 1.6 million barrels.

The average daily import of crude oil is 6.5 million barrels, roughly the same as last week. In the past four weeks, imports have averaged 6.5 million barrels per day.

The strategic oil reserves increased from 3.649 million barrels to 3.657 million barrels, and the United States continues to purchase oil for the strategic reserves.

The domestic oil production remains unchanged at 13.1 million barrels. It is worth noting that domestic oil production has remained stable in recent weeks, and higher oil prices have not provided sufficient incentives to increase production.

After the EIA report was released, WTI crude oil prices rose as traders focused on the decline in crude oil inventories. Currently, WTI crude oil prices are attempting to stabilize above the $83.50 level.

Due to traders responding to the report, Brent crude oil prices climbed to over $88.50. Traders are also concerned about the situation in the Middle East, as Israel is reportedly planning to take action against Hamas.