‎US oil inventories log more-than-projected slump

‎US oil inventories log more-than-projected slump ‎US oil inventories log more-than-projected slump

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Oil tanks

US crude oil inventories declined at a more-than-expected pace in the week ended Sept. 19, signaling a more flexible energy demand the US.

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According to a report released by the Energy Information Administration (EIA), crude oil inventories shrank 600,000 barrels last week, reaching 414.8 million in total.

This exceeded forecasts for a 300,000-barrel drop in stocks.

Likewise, gasoline stocks plummeted by 1.1 million barrels, with distillate stocks, while includes diesel and heating oil, also down by 1.7 million barrels.

US Crude Derivatives Inventories (mln barrels)

Item

Last Year

Last Week

Current

Weekly Change

Crude Oil

413

415.4

414.8

(0.6)

Gasoline

220.1

217.6

216.6

(1.1)

Distillates

122.9

124.7

123

(1.7)

 

Oil tanks

US crude oil inventories declined at a more-than-expected pace in the week ended Sept. 19, signaling a more flexible energy demand the US.

According to a report released by the Energy Information Administration (EIA), crude oil inventories shrank 600,000 barrels last week, reaching 414.8 million in total.

This exceeded forecasts for a 300,000-barrel drop in stocks.

Likewise, gasoline stocks plummeted by 1.1 million barrels, with distillate stocks, while includes diesel and heating oil, also down by 1.7 million barrels.

US Crude Derivatives Inventories (mln barrels)

Item

Last Year

Last Week

Current

Weekly Change

Crude Oil

413

415.4

414.8

(0.6)

Gasoline

220.1

217.6

216.6

(1.1)

Distillates

122.9

124.7

123

(1.7)

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