U.S. Oil Stockpiles Rose 4.3 Million Barrels Last Week: EIA -Breaking
Investing.com —According to the Energy Information Administration, U.S. crude oil inventories rose higher than predicted in the most recent week.
Last week’s increase was 4.345m barrels, in comparison to analyst estimates for an average draw of 1.375 millions barrels.
According to the EIA, stockpiles which includes diesel and rose by 0.33m barrels last week, against the expectations of a draw in excess of 1.826 millions barrels.
According to the EIA, inventories dropped by 3.616 Million barrels last week compared to expectations of a draw at 1.579 Million barrels.
prices continued their fall Tuesday, down more than 1% on worries surrounding demand from China — the largest oil importer — with the country facing Covid outbreaks in Shenzhen, a city of around 17 million. This is a major manufacturing city and has been placed under strict lockdown.
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