Open Demo Account
Home / Market Update / Commodities / U.S. Oil Inventories Down 7.4 M Barrels

U.S. Oil Inventories Down 7.4 M Barrels

M. Ali 16 June, 2021 7:36 pm Commodities, Market Update

Crude oil inventories in the United States declined by 7.4 million barrels last week, according to data by the Energy Information Administration (EIA) released on Wednesday.

The decline exceeded most market expectations, which were hovering around 4.2 million barrels for the week ended June 11, but still came below estimates by the American Petroleum Institute (API).

Gasoline stockpiles rose by 2 million barrels, while distillate inventories decreased by 1 million barrels.

Tags

Check Also

Explainer: Key Factors Indicating US Economic Resilience Amid Tariff Concerns

The US economy is demonstrating resilience despite concerns over President Donald Trump’s tariff policies, with …

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