U.S. Crude Oil Inventories Rise Slightly More Than | Commodities
(RTTNews) – Crude oil inventories within the U.S. elevated by barely more than anticipated within the week ended April 4th, in accordance with a report launched by the Energy Information Administration on Wednesday.
The report mentioned crude oil inventories climbed by 2.6 million barrels final week after surging by 6.2 million barrels within the earlier week. Economists had anticipated crude oil inventories to rise by 2.2 million barrels.
At 442.3 million barrels, U.S. crude oil inventories stay about 5 p.c beneath the five-year average for this time of 12 months, the EIA mentioned.
Meanwhile, the EIA mentioned gasoline inventories fell by 1.6 million barrels final week and are the identical because the five-year average for this time of 12 months.
Distillate fuel inventories, which embody heating oil and diesel, additionally decreased by 3.5 million barrels final week and are about 9 p.c beneath the five-year average for this time of 12 months.
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