U.S. crude oil stocks fell for a ninth straight week, led by a record drawdown at the U.S. storage hub in Cushing, Oklahoma, the Energy Information Administration said on Thursday. Crude inventories fell 6.9 million barrels in the week to Jan. 12, compared with analysts’ expectations for a decrease of 3.5 million barrels. Overall crude inventories have been steadily dwindling as demand remains strong and refineries run at a steady clip. Excluding the U.S. Strategic Petroleum Reserve, inventories are now sitting at 412.7 million barrels, the lowest level since February of 2015. Crude stocks at the Cushing, Oklahoma, delivery hub for U.S. crude futures fell 4.2 million barrels, the largest weekly draw for Cushing dating back to 2004 when records began, the EIA said. Last week, traders said market intelligence firm Genscape reported notable outflows from Cushing on the start-up of a new pipeline from that location […]