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

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

06/17/2026 - 10:36:00 (RTTNews)

(RTTNews) - A report released by the Energy Information Administration on Wednesday showed crude oil inventories in the U.S. tumbled by much more than expected in the week ended June 12th.

The EIA said crude oil inventories plunged by 8.3 million barrels last week after slumping by 7.2 million barrels in the previous week. Economists had expected crude oil inventories to decrease by 4.6 million barrels.

At 418.2 million barrels, U.S. crude oil inventories are about 6 percent below the five-year average for this time of year, the EIA said.

The report said gasoline inventories also edged down by 0.9 million barrels last week and are 6 percent below the five-year average for this time of year.

Meanwhile, the EIA said distillate fuel inventories, which include heating oil and diesel, rose by 1.0 million barrels last week but remain about 13 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

German ZEW Economic Confidence Rises To 5-month High (40 min(s), 22 sec(s) ago)
(RTTNews) - Germany's economic confidence strengthened more-than-expected in July to the highe ...Full Story»

UK Jobless Rate Remains Stable At 4.9% (01 hr(s), 01 min(s), 22 sec(s) ago)
(RTTNews) - The UK unemployment rate unexpectedly held steady in the three months to May, the Offi ...Full Story»

Taiwan Export Order Growth Quickens To 59.4% In June (02 hr(s), 30 min(s), 22 sec(s) ago)
(RTTNews) - Taiwan's export order growth rebounded markedly at the end of the second quarter, ...Full Story»

Norway Jobless Rate Rises To 4.5% (03 hr(s), 33 min(s), 22 sec(s) ago)
(RTTNews) - Norway's unemployment rate increased slightly in June after falling in the previou ...Full Story»

Swiss Trade Surplus Grows In Q2 (03 hr(s), 53 min(s), 22 sec(s) ago)
(RTTNews) - Switzerland's foreign trade surplus increased in the second quarter as exports gre ...Full Story»

New Zealand Q2 Inflation Rises 1.5% In Q2 (57 min(s), 38 sec(s) ago)
(RTTNews) - Overall consumer prices in New Zealand were up a seasonally adjusted 1.5 percent on qu ...Full Story»

New Zealand Inflation Data Due On Tuesday (03 min(s), 38 sec(s) ago)
(RTTNews) - New Zealand will on Tuesday release Q2 data for consumer prices, highlighting a light ...Full Story»

U.S. Leading Economic Index Dips Slightly More Than Expected In June (19 min(s), 38 sec(s) ago)
(RTTNews) - Partially reversing gains registered in May and April, the Conference Board released a ...Full Story»