Oil Inventories Jump by 3.63M Barrels to Fuel Weaknesses in Prices

Oil Inventories Jump by 3.63M Barrels to Fuel Weaknesses in Prices

(EIA) US commercial crude oil inventories rose by 3.63 million barrels for the week that ended July 30, a higher than expected drop of 2.94 million barrels.

Distillate fuel inventories rose by 0.8 million barrels, a more than expected drop of 0.75 million barrels.

Gasoline inventories fell by 5.3 million barrels, higher than the anticipated decline of 1.36 million barrels. 

Crude oil refinery inputs hit an average of 15.9 million barrels per day in the week that ended July 30, 46,000 barrels per day more than the previous week.

In the last four weeks, total products supplied averaged 20.5 million barrels a day, up 12.4% from the same period last year.Oil futures react to the news.

CL1! is down -3.56%.

Our Experts


Daniel Michelson

Daniel is a long term investor and position trader in the forex market.

Reva Green

Reva Green is the Senior Editor for website. An experienced media professional, Reva has close to a decade of editorial experience with a background.

Shandor Brenner

Shandor Brenner, an experienced writer at fxaudit.com, brings a wealth of knowledge with over 20 years in the investment field.

Leave a Reply

CAPTCHA ImageChange Image