Financial News: U.S. Crude Oil Inventories Edge Modestly Higher

U.S. Crude Oil Inventories Edge Modestly Higher

11/20/2024 - 10:42:00 (RTTNews)

(RTTNews) - Crude oil inventories in the U.S. saw a modest increase in the week ended November 15th, according to a report released by the Energy Information Administration on Wednesday.

The EIA said crude oil inventories crept up by 0.5 million barrels last week after rising by 2.1 million barrels in the previous week. The uptick by crude oil inventories was roughly in line with economist estimates.

At 430.3 million barrels, U.S. crude oil inventories remain about 4 percent below the five-year average for this time of year, the EIA.

The report also said gasoline inventories rose by 2.1 million barrels last week but are about 4 percent below the five-year average for this time of year.

Meanwhile, the EIA said distillate fuel inventories, which include heating oil and diesel, edged down by 0.1 million barrels last week and are about 4 percent below the five-year average for this time of year.

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