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U.S. Oil Stockpiles Rose 1.1 Million Barrels Last Week: EIA

Published 02/16/2022, 10:11 AM
Updated 02/16/2022, 10:32 AM
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By Sam Boughedda

Investing.com -- U.S. oil stockpiles rose in the latest week, confounding expectations for a drop, the Energy Information Administration said on Wednesday.

Crude inventories increased by 1.121 million barrels last week, compared with analyst's expectations for a draw of 1.572 million barrels.

Distillate stockpiles, which include diesel and heating oil, declined by 1.552m barrels in the week against expectations for a draw of 1.463 million barrels, the EIA data showed.

Gasoline inventories declined by 1.331 million barrels last week, the EIA said, compared with expectations for a build of 0.550 million barrels.

Latest comments

Oil is... just getting started. insurer got 160 trillion home value + home equityine credit, from appreciating value, this is aside from another 3t disposable income or "mattress cash," OH YES, 100%, oil will rise DOUBLE the price at now as consumer fuels transportation industry in business, industrial, entertainment, making it go-go-go
Looks to me like the finished goods are finally drawing down from thsr massive 30m+ build. Naturally oil demand would be down adter thsr build but encouraging thst the glut is clearing. Its traditionally refinery maitenance season. Whats the utalization rate currenty?
hi
Curious is the Oil price will start to drop due to low demand. However the Russian tensions might rise the oil price.. Right? 🤔
Low demand? Explain….
More like release from SPR
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