U.S. oil inventories fell by 5.4 million barrels last week: EIA By Investing.com

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U.S. oil inventories fell by 5.4 million barrels last week: EIA

Commodities Nov 16, 2022 10:35AM ET

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U.S. oil inventories fell by 5.4 million barrels last week: EIA

Investing.com -- U.S. crude oil inventories fell by more than expected last week, the Energy Information Administration (EIA) said.

Crude inventories dropped by 5.4 million barrels, against expectations for a draw of 0.44M barrels.

Distillate stockpiles rose by 1.12M barrels last week, compared with expectations for a draw of 0.513M barrels.

Gasoline inventories rose by 2.207M barrels, against expectations for a build of 0.31M barrels.

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Comments (2)

Andrew Ulferts Nov 16, 2022 2:00PM ET

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With the 4.1 million bbl SPR dump, and 1.6 million bbl Cushing draw, this is a HUGE draw.

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James Johannsen Nov 16, 2022 11:02AM ET

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midterms are over get reamed at the pump again

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Brad Albright Nov 16, 2022 11:02AM ET

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And yet oil is down 3% on the news. Maybe your mental paradigm needs tweaking.

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U.S. oil inventories fell by 5.4 million barrels last week: EIA

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