US Crude Inventories Drop 8,263K, Nearly Double Expected Draw

US EIA crude oil inventories fell 8,263K barrels versus the expected 4,566K draw, marking the third consecutive large weekly decline and the largest combined three-week draw on record. WTI crude was already trading up $1.43 at $77.47 before the release. The sharp supply drop is bullish for oil, supporting commodity-linked currencies like CAD and NOK. USD/CAD could face downward pressure as rising oil prices typically strengthen the Canadian dollar, making it a key pair to watch.