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

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

09/02/2026 - 10:42:00 (RTTNews)

(RTTNews) - The Energy Information Administration released a report on Wednesday showing U.S. crude oil inventories slumped by much more than expected in the week ended August 28th.

The report said crude oil inventories tumbled by 4.5 million barrels last week after inching up by 0.1 million barrels in the previous week.

At 424.5 million barrels, U.S. crude oil inventories are still 1 percent above the five-year average for this time of year, the EIA said.

The EIA also said gasoline inventories fell by 1.2 million barrels last week and are 6 percent below the five-year average for this time of year.

Meanwhile, the report said distillate fuel inventories, which include heating oil and diesel, crept up by 0.8 million barrels last week but remain about 14 percent below the five-year average for this time of year.

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