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

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

06/04/2025 - 10:36:00 (RTTNews)

(RTTNews) - After reporting an unexpected decrease by U.S. crude oil inventories in the previous week, the Energy Information Administration released a report on Wednesday showing another notable decline by crude oil inventories in the week ended May 30th.

The EIA said crude oil inventories slid by 4.3 million barrels last week after falling by 2.8 million barrels in the previous week. Economists had expected crude oil inventories to edge down by 0.9 million barrels.

At 436.1 million barrels, U.S. crude oil inventories are about 7 percent below the five-year average for this time of year, the EIA said.

Meanwhile, the report said gasoline inventories surged by 5.2 million barrels last week but remain about 1 percent below the five-year average for this time of year.

Distillate fuel inventories, which include heating oil and diesel, also shot up by 4.2 million barrels last week but remain about 16 percent below the five-year average for this time of year, the EIA said.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

U.S. Consumer Sentiment Improves Slightly More Than Previously Estimated In June (11 hr(s), 25 min(s), 20 sec(s) ago)
(RTTNews) - A report released by the University of Michigan on Friday showed consumer sentiment in ...Full Story»

U.S. Consumer Prices Inch Up In Line With Expectations But Core Price Growth Exceeds Estimates (11 hr(s), 49 min(s), 20 sec(s) ago)
(RTTNews) - While the Commerce Department released a closely watched report on Friday showing cons ...Full Story»

Brazil Jobless Rate Falls To 6.2% (11 hr(s), 53 min(s), 20 sec(s) ago)
(RTTNews) - Brazil's unemployment rate decreased in the three months ending in May, figures fr ...Full Story»

Turkish Economic Confidence Steady At 96.7 (12 hr(s), 12 min(s), 20 sec(s) ago)
(RTTNews) - Turkey's economic sentiment remained stable in June after rising marginally in the ...Full Story»

Iceland Inflation Rises To 4.2% (12 hr(s), 45 min(s), 20 sec(s) ago)
(RTTNews) - Consumer price inflation in Iceland accelerated in June after easing in the previous m ...Full Story»

Eurozone Economic Sentiment Falls Unexpectedly (12 hr(s), 55 min(s), 20 sec(s) ago)
(RTTNews) - Eurozone economic sentiment weakened unexpectedly in June primarily driven by reduced ...Full Story»

Belgium Inflation Rises To 2.15% (13 hr(s), 11 min(s), 20 sec(s) ago)
(RTTNews) - Belgium's consumer price inflation rose for the first time in five months in June ...Full Story»

U.S. Consumer Prices Inch Up 0.1% In May, In Line With Estimates (13 hr(s), 16 min(s), 20 sec(s) ago)
(RTTNews) - The Commerce Department released a closely watched report on Friday showing consumer p ...Full Story»