U.S. Crude Oil Inventories Unexpectedly Rise By | Commodities
(RTTNews) – Crude oil inventories within the U.S. unexpectedly elevated by the week ended August eighth, based on a report launched by the Energy Information Administration on Wednesday.
The EIA stated crude oil inventories rose by 3.0 million final week after falling by 3.0 million barrels within the earlier week. Economists had anticipated crude oil inventories to dip by 0.8 million barrels.
At 426.7 million barrels, U.S. crude oil inventories stay about 6 % beneath the five-year average for this time of yr, the report stated.
The report stated distillate fuel inventories, which embrace heating oil and diesel, additionally crept up by0.7 million barrels final week however stay about 15 % beneath the five-year average for this time of yr.
Meanwhile, the EIA stated gasoline inventories slipped by 0.8 million barrels final week and are on the five-year average for this time of yr.
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