U.S. Oil Inventories Climb, But Still Below 5 Year Average
Market Intelligence Analysis
AI-PoweredUS oil inventories rose by 600,000 barrels, but remain 3% below the 5-year average, indicating a relatively stable market.
Market impact analysis based on neutral sentiment with 78% confidence.
Article Context
Crude oil inventories in the United States increased by 600,000 barrels during the week ending November 28, after adding 2.8 million barrels in the week prior, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The increase brings commercial stockpiles to 427.5 million barrels according to government data, which is 3% below the five-year average for this time of year. The EIA’s data release follows API’s figures that were released a day earlier, which suggested that crude oil inventories…
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