U.S. crude oil inventories unexpectedly fell by 1.5 million barrels last week, reaching 447 million barrels, 3% below the five-year average.
U.S. crude oil inventories fell unexpectedly by 1.5 million barrels last week, according to the U.S. Energy Information Administration (EIA). The decline brought total crude oil inventories to 447 million barrels, about 3% below the five-year average for this time of year. Additionally, gasoline inventories dropped by 5.7 million barrels, also 3% below the five-year average, while distillate fuel inventories increased by 888,000 barrels, though they remain 7% below the five-year average.
March 13, 2024
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