U.S. Crude Oil Inventories Unexpectedly Enhance | Commodities
(RTTNews) – The Power Data Administration launched a report on Wednesday exhibiting an sudden increase by U.S. crude oil inventories within the week ended February twenty eighth.
The report stated crude oil inventories climbed by 3.6 million barrels final week after falling by 2.3 million barrels within the earlier week. Economists had anticipated crude oil inventories to edge down by 0.3 million barrels.
At 433.8 million barrels, U.S. crude oil inventories stay about 4 % under the five-year average for this time of yr, the EIA stated.
In the meantime, the EIA stated gasoline inventories fell by 1.4 million barrels final week however are 1 % above the five-year average for this time of yr.
Distillate fuel inventories, which embrace heating oil and diesel, additionally decreased by 1.3 million barrels final week and are about 6 % under the five-year average for this time of yr, the report stated.
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