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NewsBreak: U.S. Oil Inventories Rose by 2.4M Last Week

Published 09/25/2019, 10:34 AM
Updated 09/25/2019, 11:44 AM
© Reuters.

Investing.com - U.S. oil stockpiles rose by 2.4 million barrels last week, the Energy Information Administration reported Wednesday, confounding expectations for a drawdown in crude.

- Analysts were predicting a crude drawdown of 249,000 barrels, according to Investing.com.

- Gasoline inventories rose by 519,000 barrels, compared with a consensus for a rise of 296,000 barrels. Distillate stocks tumbled by nearly 3 million barrels, while analysts were looking for a drawdown of 733,000 barrels.

- WTI futures were down 2.5% to $55.84 after the release of the numbers. Crude prices were down more than 2% already ahead of the release on raft of geopolitical uncertainly, from Iran to the U.S. impeachment inquiry, and also the API build reported yesterday.

Latest comments

How do you differentiate between inventories and reserves since in today's market it can take very little time to flood inventory locations.
Inventory build.... price is also moving up! Roller index is close to 99... Dow is near to 27000..... But still Europe markets are in RED.. GOLD is in free fall. Very confusing
So let's see the impact on retail price in India .
no ,it will go up it is bull trap
Apparently
Stock rose...price down
So is it going down more?
yes further down is possible
yes further down is possible further 1percent today
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