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

Bulgaria Q2 GDP Growth Eases Less Than Estimated (02 hr(s), 43 min(s), 19 sec(s) ago)
(RTTNews) - Bulgaria's economy expanded more than initially estimated in the second quarter, ...Full Story»

Eurozone Economic Growth Revised Up To 0.6% (03 hr(s), 20 min(s), 19 sec(s) ago)
(RTTNews) - The euro area economy expanded more than initially estimated in the second quarter, un ...Full Story»

Eurozone Investor Confidence Strongest Since 2022 (04 hr(s), 03 min(s), 19 sec(s) ago)
(RTTNews) - Eurozone investor sentiment rose for the fifth straight month in September, reaching i ...Full Story»

Czech Industrial Output Growth Eases; Trade Gap Widens (04 hr(s), 22 min(s), 19 sec(s) ago)
(RTTNews) - The Czech Republic's industrial output growth moderated in July, while the country ...Full Story»

Romanian GDP Shrinks As Estimated In Q2 (04 hr(s), 56 min(s), 19 sec(s) ago)
(RTTNews) - Romania's economy contracted further as estimated initially in the second quarter ...Full Story»

German Industrial Output Falls Most In 11 Months (05 hr(s), 08 min(s), 19 sec(s) ago)
(RTTNews) - Germany's industrial output declined at the fastest pace in almost a year in July, ...Full Story»

Singapore Retail Sales Growth Eases To 1.5% (05 hr(s), 36 min(s), 19 sec(s) ago)
(RTTNews) - Singapore's retail sales growth moderated in August after accelerating in the prio ...Full Story»

Eurozone GDP Growth Revised Up (06 hr(s), 07 min(s), 19 sec(s) ago)
(RTTNews) - The euro area economy expanded more than initially estimated in the second quarter, re ...Full Story»