Open Demo Account
Home / Market Update / Commodities / US Oil Inventories Rise Unexpectedly

US Oil Inventories Rise Unexpectedly

M. Ali 12 November, 2020 10:54 pm Commodities, Market Update

Data by the United States Energy Information Administration (EIA) showed on Thursday that crude oil inventories in the US rose by 4.3 million barrels last week.

The data comes against expectations a 3 million-barrel decline, according to a poll by S&P Global Platts.

Gasoline inventories declined by 2.3 million barrels, while distillate stockpiles decreased by 5.4 million barrels.

On Tuesday, the American Petroleum Institute (API) reported a 5.1 million-barrel decline in American stockpiles.

Tags

Check Also

Pound Slips Ahead of Key BoE Testimony as Markets Weigh Odds of March Rate Cut

The British pound edged lower on Tuesday as investors turned cautious ahead of parliamentary testimony …

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