U.S. Crude Oil Inventories Rise Much less Than Anticipated | Commodities
(RTTNews) – A report launched by the Vitality Data Administration on Wednesday confirmed crude oil inventories within the U.S. elevated by much less than anticipated within the week ended March seventh.
The EIA stated crude oil inventories rose by 1.4 million barrels final week after climbing by 3.6 million barrels within the earlier week. Economists had anticipated crude oil inventories to grow by 2.1 million barrels.
At 435.2 million barrels, U.S. crude oil inventories stay about 5 % under the five-year average for this time of yr.
In the meantime, the report stated gasoline inventories tumbled by 5.7 million barrels final week however stay 1 % above the five-year average for this time of yr.
Distillate fuel inventories, which embrace heating oil and diesel, additionally fell by 1.6 million barrels final week and are about 5 % under the five-year average for this time of yr, the EIA stated.
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