U.S. Crude Oil Inventories Slump Much More Than | Commodities
(RTTNews) – Crude oil inventories within the U.S. tumbled by a lot more than anticipated within the week ended September twentieth, in keeping with a report launched by the Energy Information Administration on Wednesday.
The report mentioned crude oil inventories plunged by 4.5 million barrels final week after falling by 1.6 million barrels within the earlier week. Economists had anticipated crude oil inventories to lower by 1.2 million barrels.
At 413.0 million barrels, U.S. crude oil inventories are about 5 p.c beneath the five-year average for this time of yr, the EIA added.
The EIA mentioned gasoline inventories additionally fell by by 1.5 million barrels final week and are about 1 p.c beneath the five-year average for this time of yr.
Distillate fuel inventories, which embody heating oil and diesel, additionally decreased by 2.2 million barrels final week and are about 9 p.c beneath the five-year average for this time of yr.
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