Financial News: U.S. Crude Oil Inventories Pull Back Sharply

U.S. Crude Oil Inventories Pull Back Sharply

04/29/2026 - 10:44:00 (RTTNews)

(RTTNews) - After reporting an unexpected increase by U.S. crude oil inventories in the previous week, the Energy Information Administration released a report on Wednesday showing a sharp pullback by crude oil inventories in the week ended April 24th.

The EIA said crude oil inventories plunged by 6.2 million barrels last week after climbing by 1.9 million barrels in the previous week.

At 459.5 million barrels, U.S. crude oil inventories are still about 1 percent above the five-year average for this time of year, the EIA said.

The report said gasoline inventories also tumbled by 6.1 million barrels last week and are 2 percent below the five-year average for this time of year.

Distillate fuel inventories, which include heating oil and diesel, also slumped by 4.5 million barrels last week and are about 11 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 Rebounds From Record Low In June (02 min(s), 58 sec(s) ago)
(RTTNews) - With consumers experiencing some relief due to the early-month easing in gasoline pric ...Full Story»

Brent Crude Oil Prices May Climb 36% In 2026 On Middle East Conflict: World Bank (12 min(s), 58 sec(s) ago)
(RTTNews) - The persisting conflict in the Middle East and the closure of the Strait of Hormuz are ...Full Story»

India Inflation Climbs To 3.93% In May (44 min(s), 58 sec(s) ago)
(RTTNews) - India's consumer price inflation accelerated further in May to the highest level i ...Full Story»

U.K. Economy Shrinks For First Time Since August (02 min(s), 58 sec(s) ago)
(RTTNews) - The U.K. economy contracted for the first time since August last year as the U.S.-Iran ...Full Story»

Hong Kong Industrial Output Growth Slows In Q1 (11 min(s), 02 sec(s) ago)
(RTTNews) - Hong Kong's industrial production expanded at a slower pace in the first quarter o ...Full Story»

Spain Inflation Stable At 3.2% (24 min(s), 02 sec(s) ago)
(RTTNews) - Spain's consumer prices logged a steady increase in May, final data from the stati ...Full Story»

Croatia Producer Price Inflation Eases To 6.7% (33 min(s), 02 sec(s) ago)
(RTTNews) - Croatia's producer price inflation slowed slightly in May from a 31-month high in ...Full Story»

Turkey Current Account Deficit Narrows In April (46 min(s), 02 sec(s) ago)
(RTTNews) - Turkey's current account surplus decreased in April from a year ago, according to ...Full Story»