EIA reports U.S. crude inventories fell by 391,000 barrels, less than expected

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Summary · why it matters

The U.S. Energy Information Administration (EIA) reported that U.S. crude inventories fell by 391,000 barrels last week, while analysts had expected a decline of 1.4 million barrels. Crude stocks in Cushing, Oklahoma, the delivery point for U.S. crude futures, fell by 684,000 barrels. Gasoline inventories rose by 1.3 million barrels last week, while analysts had expected a decline of 1.4 million barrels. Distillate inventories, which include heating oil and diesel, rose by 2.1 million barrels, while analysts had expected a decline of 700,000 barrels.

Impact on assets 3

Others▼ · 3 stocks
⛏RBOB Gasoline Futures
GASOLINE
▼ NegativeSupplyrelevance

Gasoline inventories rose 1.3 million barrels versus an expected 1.4 million-barrel decline, pointing to ample supply that weighs on RBOB gasoline.

⛏Heating Oil Futures
HEATOIL
▼ NegativeSupplyrelevance

Distillate inventories rose 2.1 million barrels against an expected 700,000-barrel drop, indicating a supply surplus bearish for heating oil.

⛏Crude Oil WTI Futures
WTI
▼ NegativeSupplyrelevance

U.S. crude inventories fell only 391,000 barrels vs the expected 1.4 million-barrel draw, signaling weaker-than-expected supply tightness for WTI.