Financial News: U.S. Crude Oil Inventories Decrease Much More Than

U.S. Crude Oil Inventories Decrease Much More Than Expected

09/18/2024 - 10:39:00 (RTTNews)

(RTTNews) - A report released by the Energy Information Administration on Wednesday showed crude oil inventories in the U.S. fell by much more than expected in the week ended September 13th.

The EIA said crude oil inventories decreased by 1.6 million barrels last week after rising by 0.8 million barrels in the previous week. Economists had expected crude oil inventories to edge down by 0.1 million barrels.

At 417.5 million barrels, U.S. crude oil inventories are about 4 percent below the five-year average for this time of year, the EIA added.

Meanwhile, the report said gasoline inventories crept up by 0.1 million barrels last week and are only slightly below the five-year average for this time of year.

Distillate fuel inventories, which include heating oil and diesel, also inched up by 0.1 million barrels last week but are about 9 percent below the five-year average for this time of year.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

U.S. Existing Home Sales Slump To Ten-Month Low In August (34 min(s), 12 sec(s) ago)
(RTTNews) - The National Association of Realtors released a report on Thursday showing a sharp pul ...Full Story»

BoE Keeps Rate Steady, Maintains Pace Of Gilt Stock Reduction (54 min(s), 12 sec(s) ago)
(RTTNews) - The Bank of England decided on Thursday to maintain its benchmark rate and continue wi ...Full Story»

U.S. Leading Economic Index Dips Slightly Less Than Expected In August (57 min(s), 12 sec(s) ago)
(RTTNews) - A report released by the Conference Board on Thursday showed its reading on leading U. ...Full Story»

Philly Fed Index Indicates Return To Growth In September (01 hr(s), 14 min(s), 12 sec(s) ago)
(RTTNews) - A reading on Philadelphia-area manufacturing activity returned to positive territory i ...Full Story»

U.S. Jobless Claims Unexpectedly Decrease To Nearly Four-Month Low (01 hr(s), 31 min(s), 12 sec(s) ago)
(RTTNews) - First-time claims for U.S. unemployment benefits unexpectedly fell to a nearly four-mo ...Full Story»

Philly Fed Index Returns To Positive Territory In September (02 hr(s), 24 min(s), 12 sec(s) ago)
(RTTNews) - A reading on Philadelphia-area manufacturing activity returned to positive territory i ...Full Story»

U.S. Weekly Jobless Claims Unexpectedly Decrease To 219,000 (02 hr(s), 31 min(s), 12 sec(s) ago)
(RTTNews) - First-time claims for U.S. unemployment benefits unexpectedly fell to a nearly four-mo ...Full Story»

BoE Holds Key Rate As Expected (03 hr(s), 27 min(s), 12 sec(s) ago)
(RTTNews) - The Bank of England decided to maintain its benchmark rate on Thursday after a quarter ...Full Story»