‎US oil inventories rise for 2nd straight week

‎US oil inventories rise for 2nd straight week ‎US oil inventories rise for 2nd straight week

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Oil tanks

US crude oil inventories expanded during the week ended Sept. 25, according to data released Wednesday by the US Energy Information Administration (EIA), while distillate stockpiles saw a decline.

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Crude inventories recorded their second straight weekly increase, though the rise fell below the American Petroleum Institute’s (API) estimates, which had projected a build of approximately 1.02 million barrels for the week.

The continued build in crude stockpiles signals potential weakness in refinery consumption, though the drawdown in refined products helps offset concerns regarding broader energy demand.

US Crude Derivatives Inventories (mln barrels)

Item

Last Year

Last Week

Current

Weekly Change

Crude Oil

416.5

426.4

427.3

+0.9

Gasoline

220.7

206

204.4

(1.7)

Distillates

123.6

107.4

105.2

(2.3)

 

‎

Oil tanks

US crude oil inventories expanded during the week ended Sept. 25, according to data released Wednesday by the US Energy Information Administration (EIA), while distillate stockpiles saw a decline.

Crude inventories recorded their second straight weekly increase, though the rise fell below the American Petroleum Institute’s (API) estimates, which had projected a build of approximately 1.02 million barrels for the week.

The continued build in crude stockpiles signals potential weakness in refinery consumption, though the drawdown in refined products helps offset concerns regarding broader energy demand.

US Crude Derivatives Inventories (mln barrels)

Item

Last Year

Last Week

Current

Weekly Change

Crude Oil

416.5

426.4

427.3

+0.9

Gasoline

220.7

206

204.4

(1.7)

Distillates

123.6

107.4

105.2

(2.3)

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