Open Demo Account
Home / Market Update / Commodities / US Oil Inventories Fall Unexpectedly for Third Week in Row

US Oil Inventories Fall Unexpectedly for Third Week in Row

M. Ali 30 September, 2020 8:20 pm Commodities, Market Update

Crude oil inventories in the United States declined last week, for the third consecutive week, by 2 million barrels, according to data by the US Energy Information Administration (EIA) on Wednesday.

This comes against expectations of an increase by 1.6-1.9 million barrels.

US oil stockpiles reached a total of 492.4 million barrels during the week that ended on September 25.

On the other hand, gasoline inventories increased by 700,000 barrels, while distillate stockpiles decreased by 3.2 million barrels.

Tags

Check Also

As Inflation Cools, US Stocks Surge

The US stock market experienced a significant rally on Friday, fueled by a cooler-than-expected inflation …

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