Financial News: U.S. Crude Oil Inventories Show Modest Rebound

U.S. Crude Oil Inventories Show Modest Rebound

09/11/2024 - 10:40:00 (RTTNews)

(RTTNews) - The Energy Information Administration released a report on Wednesday showing a modest rebound by U.S. crude oil inventories in the week ended September 6th.

The report said crude oil inventories crept up by 0.8 million barrels last week after plunging by 6.9 million barrels in the previous week. Economists had expected crude oil inventories to inch up by 0.9 million barrels.

At 419.1 million barrels, U.S. crude oil inventories remain about 4 percent below the five-year average for this time of year, the EIA added.

The EIA said gasoline inventories also increased by 2.3 million barrels last week but are about 1 percent below the five-year average for this time of year.

Distillate fuel inventories, which include heating oil and diesel, also climbed by 2.3 million barrels last week but are about 8 percent below the five-year average for this time of year.

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