Energy Preview: US Crude Oil Inventories Drop

Energy Preview: US Crude Oil Inventories Drop

Sep 12, 2019 04:09 IST capital market

US crude oil inventories eased during the week ending September 6, the US Energy Information Administration (EIA) said in a report on Wednesday. According to the Weekly Petroleum Status Report, US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, decreased by 6.9 million barrels from the previous week. At 416.1 million barrels, US crude oil inventories were about 2% below the five-year average for this time of year.
According to the EIA, total motor gasoline inventories decreased by 0.7 million barrels last week and were about 3% above the five-year average for this time of year. Distillate fuel inventories increased by 2.7 million barrels last week and were about 6% below the five-year average for this time of year. Total commercial petroleum inventories decreased last week by 3.1 million barrels last week.

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