02.10.2024 16:40:44

U.S. Crude Oil Inventories Unexpectedly Rebound

(RTTNews) - The Energy Information Administration released a report on Wednesday showing an unexpected rebound by crude oil inventories in the U.S. in the week ended September 27th.

The report said crude oil inventories jumped by 3.9 million barrels last week after slumping by 4.5 million barrels in the previous week.

Nonetheless, at 416.9 million barrels, crude oil inventories remain about 4 percent below the five-year average for this time of year, the EIA said.

The EIA said gasoline inventories also increased by 1.1 million barrels last week but are about 1 percent below the five year average for this time of year.

Meanwhile, distillate fuel inventories, which include heating oil and diesel, fell by 1.3 million barrels last week and are about 8 percent below the five-year average for this time of year.

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