U.S. Crude Inventories Unexpectedly Rose by 5.4M Barrels By Investing.com


© Reuters.

Investing.com – U.S. commercial crude (excluding those in the Strategic Petroleum Reserve) rose by 5.4 million barrels last week, versus expectations for a decline of 800,000 barrels, the Energy Information Administration said Wednesday.

In the previous week, crude inventories fell by almost 4 million barrels.

The EIA also said that total motor decreased by 1.1 million barrels during the week ended May 10, against forecasts for a drop of nearly 300,000. In the earlier week to May 3, gasoline inventories fell by almost 600,000.

rose by 84,000 barrels last week versus expectations for a drop of around 1 million barrels. In the previous week, distillate stockpiles slid by almost 160,000 barrels.

Oil prices were mixed upon the release of the EIA numbers.

, the benchmark for U.S. crude, slid 16 cents, or 0.3%, to $61.62 per barrel by 10:34 AM ET (14:34 GMT).

, the global benchmark for oil, rose by 23 cents, or 0.3%, to $71.47.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *