U.S. gasoline reserves fell last week.
Crude oil inventories in the United States rose more than expected last week, according to data released Wednesday by the U.S. Energy Information Administration (EIA), as reported by RTTNews.
The EIA reported that for the week ending October 4, 2024, crude oil stocks increased by 5.810 million barrels, reaching a total of 422.7 million barrels. This marks the largest rise in over five months, significantly surpassing market expectations, which predicted a two-million-barrel increase.
In contrast, gasoline inventories dropped by 6.304 million barrels, while analysts had forecasted a decline of 1.1 million barrels.
Distillate stocks, which include diesel and heating oil, also decreased by 3.124 million barrels, exceeding the anticipated drop of 1.75 million barrels.
