U.S. Crude Oil Inventories Inch Modestly Higher | Commodities
(RTTNews) – Crude oil inventories within the U.S. noticed a modest increase within the week ended April eleventh, the Energy Information Administration revealed in a report launched on Wednesday.
The EIA stated crude oil inventories crept up by 0.5 million barrels final week after climbing by 2.6 million barrels within the earlier week. Economists had anticipated crude oil inventories to inch up by 0.4 million barrels.
At 442.9 million barrels, U.S. crude oil inventories are about 6 p.c under the five-year average for this time of 12 months, the EIA added.
Meanwhile, the report stated gasoline inventories fell by 2.0 million barrels final week and are about 1 p.c under the five-year average for this time of 12 months.
Distillate fuel inventories, which embody heating oil and diesel, additionally decreased by 1.9 million barrels final week and are about 11 p.c under the five-year average for this time of 12 months, the EIA stated.
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.
Stay up to date with the latest news within the commodities markets! Our web site is your go-to source for cutting-edge commodity news, market trends, insights, and updates on key assets. We present each day updates to make sure you have entry to the freshest info on commodity actions, industry efficiency, provide and demand shifts, and main market bulletins.
Explore how these trends are shaping the long run of world commodities! Visit us repeatedly for essentially the most participating and informative content material by clicking right here. Our rigorously curated articles will keep you knowledgeable on market shifts, investment methods, commodity evaluation, and pivotal moments within the world of assets.
