U.S. Crude Oil Inventories Unexpectedly Inch | Commodities
(RTTNews) – The Energy Information Administration launched a report on Wednesday unexpectedly exhibiting an uptick by U.S. crude oil inventories within the week ended April 18th.
The report stated crude oil inventories crept up by 0.2 million barrels final week after rising by 0.5 million barrels within the earlier week. Economists had anticipated crude oil inventories to dip by 0.7 million barrels.
At 443.1 million barrels, U.S. crude oil inventories stay about 5 % beneath the five-year average for this time of yr, the EIA stated.
Meanwhile, the EIA stated gasoline inventories tumbled by 4.5 million barrels final week and are about 3 % beneath the five-year average for this time of yr.
Distillate fuel inventories, which embrace heating oil and diesel, additionally decreased by 2.4 million barrels final week and are about 13 % beneath the five-year average for this time of yr, the report stated.
The views and opinions expressed herein are the views and opinions of the writer 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 day by day updates to make sure you have entry to the freshest data on commodity actions, industry efficiency, provide and demand shifts, and main market bulletins.
Explore how these trends are shaping the long run of international commodities! Visit us repeatedly for probably the most participating and informative content material by clicking right here. Our fastidiously curated articles will keep you knowledgeable on market shifts, investment methods, commodity evaluation, and pivotal moments within the world of assets.
