U.S. Oil Inventories Fell by 1.7 Million Barrels Last Week: EIA

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U.S. Oil Inventories Fell by 1.7 Million Barrels Last Week: EIA
Credit: © Reuters.

By Liz Moyer

Investing.com -- U.S. crude oil inventories fell by more than expected last week, according to the Energy Information Administration (EIA).

Crude oil inventories dropped by 1.725 million barrels, against expectations for a build of 1.38 million barrels, the EIA reported.

The EIA also reported that distillate stockpiles rose by 0.124 million barrels last week. The expectation had been for a draw of 2.167 million barrels.

Gasoline inventories, meanwhile, dropped by 0.114 million barrels, against expectations for a draw of 1.114 million barrels, the EIA said.

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  • sushil garg @sushil garg
    aaj ki inventory se crude price increase or decrease
    Like 2
    • Bhavesh Suthar @Bhavesh Suthar
      Remember, inventories tend to increase when the demand is low, or there is an oversupply, and lower inventories mean either there is a lot of demand, or there is a production cut both ways it’s good for crude prices and upstream companies
      Like 1
    • Bhavesh Suthar @Bhavesh Suthar
      chances to move Price up but keep eye on Dollar index
      Like 0

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