According to data released by the US Energy Information Administration (EIA), commercial crude oil inventories in the country decreased by approximately 4.9 million barrels last week to 440.2 million barrels. This figure represents a decrease above market expectations. The market had expected inventories to decrease by approximately 900 thousand barrels.
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Strategic crude oil stocks, which are not included in commercial stocks and represent the country’s strategic reserves, increased by approximately 700 thousand barrels and reached 373 million 700 thousand barrels.
The report also examined US gasoline stocks, which increased by approximately 3.3 million barrels to 233 million barrels.
