U.S. Crude Oil Inventories Unexpectedly Lower | Commodities
(RTTNews) – Crude oil inventories within the U.S. unexpectedly decreased within the week ended February twenty first, in line with a report launched by the Vitality Data Administration on Wednesday.
The report mentioned crude oil inventories fell by 2.3 million barrels final week after surging by 4.6 million barrels within the earlier week. Economists had anticipated crude oil inventories to increase by 2.3 million barrels.
At 430.2 million barrels, U.S. crude oil inventories are about 4 % beneath the five-year average for this time of yr, the EIA mentioned.
In the meantime, the EIA mentioned gasoline inventories crept up by 0.4 million barrels final week and are simply barely beneath the five-year average for this time of yr.
Distillate fuel inventories, which embody heating oil and diesel, jumped by 3.9 million barrels final week however stay about 8 % beneath the five-year average for this time of yr.
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