Commodities Buzz: US Crude Stockpiles Fall By 3.7 Million Barrel; Gasoline Stocks Build, Says EIA

24 Nov 2022 , 10:39 AM

The U.S. Energy Information Administration reported inventories of oil had shed 3.7 million barrels over the week to November 18. This compared with a decline of 5.4 million barrels for the previous week and an estimated draw of 4.8 million barrels reported by the American petroleum Institute for the week to November 18. In gasoline, the EIA estimated an inventory build of 3.1 million barrels in the week to November 18, which compared with a build of 2.2 million barrels estimated for the previous week. Gasoline production averaged 9.2 million barrels daily last week, which compared with 9.8 million barrels daily for the previous week.Powered by Commodity Insights