Oil tanks
US crude oil inventories tumbled against forecasts in the week ended Oct. 25, according to a report released by the Energy Information Administration (EIA).
Crude oil inventories shed 500,000 barrels last week, versus the S&P Global Commodity Insights survey expectations of an 800,000-barrel increase.
Likewise, gasoline stocks contracted by 2.7 million barrels, contrary to projections of a 1.1-million-barrel drop. Distillate stocks, including diesel and heating oil, also lost nearly one million barrels, below estimates of a 1.4-million-barrel slump.
|
US Crude & Derivatives Inventories (mln barrels) |
||||
|
Item |
Last Year |
Last Week |
Current |
Weekly Change |
|
Crude Oil |
421.9 |
426.0 |
425.5 |
(0.5) |
|
Gasoline |
223.5 |
213.6 |
210.9 |
(2.7) |
|
Distillates |
111.3 |
113.8 |
112.9 |
(1.0) |
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