U.S. Crude Oil Inventories Pull Back Much More Than Expected

RTTNews | 451 days ago
Stocktwits
U.S. Crude Oil Inventories Pull Back Much More Than Expected

(RTTNews) - The Energy Information Administration released a report on Thursday showing U.S. crude oil inventories tumbled by much more than expected in the week ended May 24th.

The report said crude oil inventories slumped by 4.2 million barrels last week after climbing by 1.8 million barrels in the previous week. Economists had expected crude oil inventories to decrease by 1.9 million barrels.

With the sharp pullback, U.S. crude oil inventories are about 4 percent below the five-year average for this time of year, the EIA said.

Meanwhile, gasoline inventories increased by 2.0 million barrels last week but remain about 1 percent below the five-year average for this time of year.

Distillate fuel inventories, which include heating oil and diesel, also climbed by 2.5 million barrels last week but remain about 6 percent below the five-year average for this time of year.

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Australian Market Slashes Early Gains In Mid-market

Australian Market Slashes Early Gains In Mid-market

The Australian stock market is slashing its early gains in mid-market trading on Monday, recouping the losses in the previous session, following the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving up to near the 9,000.00 mark, with gains across most sectors led by mining and technology stocks. Financial stocks were the only weak spot.
RTTNews | 33 minutes ago
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RTTNews | 50 minutes ago
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Indonesia Stock Market May End Losing Streak On Monday

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RTTNews | 2h 30min ago
Australian Market Notably Higher

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RTTNews | 2h 31min ago
Hong Kong Shares Tipped To Open In The Green

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RTTNews | 2h 44min ago
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