Market Pulse Archives

July 17, 2019, 10:38 a.m. EDT

EIA reports a fifth straight weekly fall in U.S. crude-oil supplies

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

or Cancel Already have a watchlist? Log In

By Myra P. Saefong

The Energy Information Administration on Wednesday reported that U.S. crude supplies fell for a fifth consecutive week, but by less than the market expected. Crude stockpiles were down 3.1 million barrels for the week ended July 12. They were forecast to fall by 4.2 million barrels, according to analysts polled by S&P Global Platts. The American Petroleum Institute on Tuesday reported a decline of 1.4 million barrels, according to sources. The EIA data showed that gasoline inventories climbed by 3.6 million barrels, while distillate stockpiles increased by 5.7 million barrels last week. The S&P Global Platts survey revealed expectations for a supply decline of 1.5 million barrels for gasoline and an increase of 300,000 barrels for distillates. August West Texas Intermediate crude was up 24 cents, or 0.4%, to $57.86 a barrel on the New York Mercantile Exchange. Prices were trading at $57.83 before the supply data.

Read the full story:
U.S. crude supplies fall a fifth straight week, but by less than the market expected

This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.