U.S. Crude Oil Inventories Unexpectedly Decrease | Commodities
(RTTNews) – Crude oil inventories within the U.S. unexpectedly decreased within the week ended May twenty third, in accordance with a report launched by the Energy Information Administration on Thursday.
The EIA stated crude oil inventories fell by 2.8 million barrels final week after climbing by 1.3 million barrels within the earlier week. Economists had anticipated crude oil inventories to rise by 1.0 million barrels.
At 440.4 million barrels, U.S. crude oil inventories are about 6 % beneath the five-year average for this time of yr, the EIA stated.
The report stated gasoline inventories additionally decreased by 2.4 million barrels final week and are about 3 % beneath the five-year average for this time of yr.
Distillate fuel inventories, which embody heating oil and diesel, additionally dipped by 0.7 million barrels final week and are about 17 % beneath the five-year average for this time of yr, the EIA stated.
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