U.S. Oil Inventories Unexpectedly Jumped 8 Million Barrels Last Week: EIA | Brave Business

U.S. Oil Inventories Unexpectedly Jumped 8 Million Barrels Last Week: EIA

Investment.com — The Energy Information Administration reports that unexpectedly, last week saw a rise in U.S. crude oil stocks. The sudden increase can fuel concerns about demand.

Source

In contrast to projections for a drop of 1.04 million barrels, crude oil stockpiles increased by 8.2 million barrels. Due to the U.S. market vacation earlier this week, the statistics were released on Thursday, one day later than usual.

Stocks of distillates decreased by 1.266 million barrels. A 1.133 million barrel build had been anticipated.

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Against forecasts for a loss of 0.480 million barrels, gasoline inventories fell by 2.497 million barrels.

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