U.S. Crude Oil Inventories Unexpectedly Jump By 3.7 Million Barrels

RTTNews | 37 days ago
U.S. Crude Oil Inventories Unexpectedly Jump By 3.7 Million Barrels

(RTTNews) - Crude oil inventories in the U.S. unexpectedly saw a significant increase in the week ended June 7th, according to a report released by the Energy Information Administration on Wednesday.

The EIA said crude oil inventories jumped by 3.7 million barrels last week after rising by 1.2 million barrels in the previous week. Economists had expected crude oil inventories to decrease by 1.6 million barrels.

At 459.7 million barrels, U.S. crude oil inventories remain about 4 percent below the five-year average for this time of year, the EIA said.

The report said gasoline inventories also shot up by 2.6 million barrels last week and are just slightly below the five-year average for this time of year.

Distillate fuel inventories, which include heating oil and diesel, also edged up by 0.9 million barrels last week but are about 7 percent below the five-year average for this time of year.

read more
U.S. Leading Economic Index Dips Slightly Less Than Expected In June

U.S. Leading Economic Index Dips Slightly Less Than Expected In June

The Conference Board released a report on Thursday showing a modest decrease by its reading on leading U.S. economic indicators in the month of June. The report said the leading economic index edged down by 0.2 percent in June after falling by a revised 0.4 percent in May. Economists had expected the leading economic index to dip by 0.3 percent.
RTTNews | 1 day ago
Philly Fed Index Indicates Notable Reacceleration In Growth In July

Philly Fed Index Indicates Notable Reacceleration In Growth In July

After reporting a slowdown in the pace of regional manufacturing growth in the previous month, the Federal Reserve Bank of Philadelphia released a report on Thursday showing the pace of growth reaccelerated by much more than expected in the month of July. The Philly Fed said its diffusion index for current general activity jumped to 13.9 in July from 1.3 in June.
RTTNews | 1 day ago
U.S. Jobless Claims Climb More Than Expected To 243,000

U.S. Jobless Claims Climb More Than Expected To 243,000

A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits climbed by much more than expected in the week ended July 13th. The Labor Department said initial jobless claims rose to 243,000, an increase of 20,000 from the previous week's revised level of 223,000. Economists had expected initial jobless claims to edge up to 230,000.
RTTNews | 1 day ago
Philly Fed Index Jumps Much More Than Expected In July

Philly Fed Index Jumps Much More Than Expected In July

After reporting a slowdown in the pace of regional manufacturing growth in the previous month, the Federal Reserve Bank of Philadelphia released a report on Thursday showing the pace of growth reaccelerated by much more than expected in the month of July.
RTTNews | 1 day ago
Mortgage Applications Rise For First Time In 4 Weeks

Mortgage Applications Rise For First Time In 4 Weeks

U.S. mortgage applications increased in the week ending July 12, after declining in the past three weeks, the weekly survey results from the Mortgage Bankers Association showed Wednesday. Mortgage applications rose 3.9 percent from the previous week, when they fell 0.2 percent, the MBA said.
RTTNews | 2 days ago
U.S. Industrial Production Climbs More Than Expected In June

U.S. Industrial Production Climbs More Than Expected In June

A report released by the Federal Reserve on Wednesday showed industrial production in the U.S. increased by more than expected in the month of June. The Fed said industrial production climbed by 0.6 percent in June after jumping by 0.9 percent in May. Economists had expected industrial production to rise by 0.3 percent.
RTTNews | 2 days ago
U.S. Housing Starts, Building Permits Rebound Significantly In June

U.S. Housing Starts, Building Permits Rebound Significantly In June

The Commerce Department released a report on Wednesday showing a significant rebound by new residential construction in the U.S. in the month of June. The report said housing starts shot up by 3.0 percent to an annual rate of 1.353 million in June after plunging by 4.6 percent to a revised rate of 1.314 million in May.
RTTNews | 2 days ago