Financial News: U.S. Crude Oil Inventories Unexpectedly Surge By 6.2

U.S. Crude Oil Inventories Unexpectedly Surge By 6.2 Million Barrels

04/02/2025 - 10:39:00 (RTTNews)

(RTTNews) - A report released by the Energy Information Administration on Wednesday unexpectedly showed a sharp increase by U.S. crude oil inventories in the week ended March 28th.

The EIA said crude oil inventories surged by 6.2 million barrels last week after slumping by 3.3 million barrels in the previous week. Economists had expected crude oil inventories to decrease by 2.0 million barrels.

Nonetheless, at 439.8 million barrels, U.S. crude oil inventories remain about 4 percent below the five-year average for this time of year, the report said.

The report also said distillate fuel inventories, which include heating oil and diesel, crept up by 0.3 million barrels last week but are about 6 percent below the five-year average for this time of year.

Meanwhile, the EIA said gasoline inventories decreased by 1.6 million barrels last week but remain 2 percent above 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

U.S. Consumer Confidence Slumps More Than Expected In April (06 min(s), 25 sec(s) ago)
(RTTNews) - Largely reflecting a significant deterioration by consumer expectations, the Conferenc ...Full Story»

Euro Area Inflation Expectations Highest Since 2024: ECB Survey (13 min(s), 25 sec(s) ago)
(RTTNews) - Eurozone consumers' inflation expectations for one year and three years ahead incr ...Full Story»

U.S. Job Openings Decrease More Than Expected In March (18 min(s), 25 sec(s) ago)
(RTTNews) - The Labor Department released a report on Tuesday showing job openings in the U.S. fel ...Full Story»

Turkey Economic Confidence Weakens In April (22 min(s), 25 sec(s) ago)
(RTTNews) - Turkey's economic sentiment weakened in April to the lowest level in seven months, ...Full Story»

Swedish Economic Confidence Falls Slightly In April (01 hr(s), 28 min(s), 25 sec(s) ago)
(RTTNews) - Sweden's economic confidence decreased further in April to the lowest level in six ...Full Story»

Iceland Inflation Accelerates First Time In 9 Months (01 hr(s), 57 min(s), 25 sec(s) ago)
(RTTNews) - Consumer price inflation climbed in April for the first time in nine months, prelimina ...Full Story»

Eurozone Loans To Private Sector Rise Faster (02 hr(s), 12 min(s), 25 sec(s) ago)
(RTTNews) - Adjusted loans to the euro area private sector grew at a faster pace in March as lendi ...Full Story»

Eurozone Economic Sentiment At 4-Month Low (02 hr(s), 35 min(s), 25 sec(s) ago)
(RTTNews) - Euro area economic confidence weakened more than expected to a four-month low in April ...Full Story»