US Crude Inventories Falls by 1.6 M Barrels in Week

Crude oil inventories in the United States decreased last week, according to data by the U.S. Energy Information Administration (EIA) on Wednesday.

A decline of 1.6 million barrels was seen in oil stockpiles last week to a total of 512.5 million barrels.

Although the decline was less than expected, it helped oil prices return to gains.