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Oil Stockpiles Rose 6.088 Million Barrels Last Week: EIA By Investing.com


© Reuters.

Investing.com – The U.S. Oil Stockpiles increased by an unanticipatedly high amount during the week ended Thursday, according to the Energy Information Administration.

Analysts expected a gain of 702,000 barrels in crude oil inventories, but they were up by 6.088million barrels.

According to the EIA, distillate stocks, which include diesel, decreased by 24,000 barrels per week, compared with expectations for a draw in excess of 933,000 barrels.

The EIA reported that gasoline inventories decreased by 1.958million barrels last week, which is lower than the 83,000 barrels expected.

 

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.