Home / Market Update / Commodities / US Oil Inventories Decline More than Expected

US Oil Inventories Decline More than Expected

Crude oil inventories in the United States declined by 3.8 million barrels last week, according to data by the US Energy Information Administration (EIA) on Thursday.

The decline exceeds that expected by market experts of around 2.3 million barrels, and it comes after an increase of 500,000 barrels in the week before.

Gasoline stockpiles decreased by 1.6 million barrels, while distillate stockpiles retreated by 7.2 million barrels for the week ended on October 9.

Check Also

U.S. Producer Prices Rise in May, Dollar Weakens Amid Trade Uncertainty

The latest data from the Bureau of Labor Statistics (BLS) revealed that Producer Prices increased …