Oil tanks
US oil stocks rose more than expected during the week ended Jan. 31, marking a second consecutive week of gains.
According to data released today, Feb. 5, by the US Energy Information Administration (EIA), commercial oil stocks increased by 8.7 million barrels over the past week, significantly surpassing forecasts that predicted a rise of just 1.3 million barrels.
Meanwhile, gasoline stocks increased by 2.2 million barrels, while distillate stocks, which include diesel and heating oil, declined by 5.5 million barrels.
US Crude & Derivative Inventories (mln barrels)
|
Item |
Last Year |
Last Week |
Current |
Weekly Change |
|
Crude Oil |
427.4 |
415.1 |
423.8 |
+8.7 |
|
Gasoline |
251.0 |
248.9 |
251.1 |
+2.2 |
|
Distillates |
127.6 |
124.0 |
118.5 |
(5.5) |
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