US oil inventories rise by 2.1M barrels

Oil tanks

Crude oil inventories in the US rose more than expected in the week ended Nov. 1, according to a report released by the Energy Information Administration (EIA).

 

Crude oil inventories added 2.1 million barrels last week, compared to expectations by Wall Street analysts that inventories would stabilize at the levels of previous week.

 

Meanwhile, gasoline stocks were up by 400,000 barrels, against expectations of a decline by 900,000 barrels only.

 

Distillate stocks rose by about 2.9 million barrels, lower than forecasts of a rise by 300,000 barrels.
 

US Crude & Derivatives Inventories (mln barrels)

Item

Last Year

Last Week

Current

Weekly Change

Crude Oil

435.8

425.5

427.7

+2.1

Gasoline

217.2

210.9

211.3

+0.4

Distillates

108.0

112.9

115.8

+2.9

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