U.S. Crude Oil Inventories Fall Sharply
U.S. crude oil inventories fell for the sixth week running, exceeding analysts’ forecasts and impacting the global energy market.
| Countries | Libye |
|---|---|
| Companies | Repsol, United States Energy Information Administration (EIA) |
| Sector | Pétrole |
| Theme | Marchés & Finance, Prix |
Recent data from the U.S. Energy Information Administration (EIA) show a significant decrease in U.S. commercial crude oil reserves.
For the week ended August 2, 2024, reserves fell by 3.7 million barrels, far surpassing analysts’ forecasts of a 1.8 million-barrel drop. This marks the sixth consecutive week of declining inventories, which now stand at 429.3 million barrels, some 6% below the five-year average.
By contrast, gasoline stocks rose by 1.3 million barrels, against expectations of a 1.8 million-barrel decrease.
This increase in gasoline reserves, combined with the continuing decline in crude oil inventories, highlights the contrasting dynamics of the US domestic market.
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