Open Demo Account
Home / Market Update / Commodities / EIA: US Weekly Crude Oil Stockpiles Rise

EIA: US Weekly Crude Oil Stockpiles Rise

Mohamed Abdelhamid 24 November, 2021 11:40 pm Commodities, Market Update

U.S. crude oil stocks rose last week but gasoline and distillate stocks fell even as refining activity increased on strong overall fuel demand, the Energy Information Administration said on Wednesday.

Crude inventories rose by 1 million barrels in the week to Nov. 19, compared with analysts’ expectations for a decrease of 481,000 barrels.

Fuel stocks have continued to decline as product demand remains strong. Gasoline stocks (USOILG=ECI) fell by 603,000 barrels, compared with analysts’ expectations in a Reuters poll for a 461,000-barrel drop. Stocks of gasoline are at their lowest since November 2017.

Tags

Check Also

Britain’s Economy Rebounds in Q1, But Long-Term Growth Woes Cloud Election Outlook

Key Points: Stronger Rebound: Britain’s GDP grew by 0.7% in Q1 2024, exceeding initial estimates, …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends