Financial News: U.S. Crude Oil Inventories Unexpectedly Skyrocket

U.S. Crude Oil Inventories Unexpectedly Skyrocket

08/12/2026 - 10:36:00 (RTTNews)

(RTTNews) - A report released by the Energy Information Administration on Wednesday showed crude oil inventories in the U.S. unexpectedly skyrocketed in the week ended August 7th.

The EIA said crude oil inventories spiked by 17.4 million barrels last week after climbing by 2.5 million barrels in the previous week. Economists had expected crude oil inventories to fall by 1.4 million barrels.

At 424.4 million barrels, U.S. crude oil inventories are still about 2 percent below the five-year average for this time of year, the report said.

Meanwhile, the report said gasoline inventories dipped by 1.0 million barrels last week and are 6 percent below the five-year average for this time of year.

The EIA said distillate fuel inventories, which include heating oil and diesel, also edged down by 0.1 million barrels last week and are about 12 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

Indonesia Rate Decision On Tap For Wednesday (10 min(s), 28 sec(s) ago)
(RTTNews) - The central bank in Indonesia will wrap up its monetary policy meeting and then announ ...Full Story»

Slovenian Consumers More Pessimistic In September (34 min(s), 28 sec(s) ago)
(RTTNews) - Consumers in Slovenia remained slightly more pessimistic in September, and the confide ...Full Story»

Belgian Consumer Confidence Weakens In September (59 min(s), 28 sec(s) ago)
(RTTNews) - Households in Belgium expressed a more pessimistic attitude in September as they expre ...Full Story»

Spain Trade Gap Widens In July (24 min(s), 28 sec(s) ago)
(RTTNews) - Spain's foreign trade deficit increased notably in July from a year ago as imports ...Full Story»

Taiwan Export Order Growth Accelerates To 71.4% (48 min(s), 28 sec(s) ago)
(RTTNews) - Taiwan's export order growth quickened for the third straight month in August, dat ...Full Story»

UK Manufacturing Order Books Improve: CBI (36 min(s), 28 sec(s) ago)
(RTTNews) - UK manufacturing orders improved for the second straight month in September, the Indus ...Full Story»

Amended: UK Budget Deficit Exceeds Estimate (19 min(s), 28 sec(s) ago)
(RTTNews) - Corrects first para The UK budget deficit exceeded the government estimate in Aug ...Full Story»

UK Borrowing Overshoots Estimate (17 min(s), 28 sec(s) ago)
(RTTNews) - The UK government borrowing exceeded the official estimate in August as spending rose ...Full Story»