Commodities Buzz: EIA Reports Large Crude Inventory Build

4 Aug 2022 , 10:31 AM

The Energy Information Administration reported a build in crude oil inventories of 4.5 million barrels for the week to July 29. This compared with a draw of an almost identical size for the previous week. US crude oil inventories are at 426.6 million barrels, which is 7 percent below the five-year average for this time of the year. Gasoline inventories added a modest 200,000 barrels in the week to July 29, with production averaging 9.3 million barrels daily. This compared with a draw of 3.3 million barrels and production of 9.7 million barrels daily for the previous week.Powered by Commodity Insights