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US crude stocks rose unexpectedly last week | newsletter

WASHINGTON (Dow Jones) – US crude oil inventories did not decline for the week ending April 29, 2022, contrary to expectations. It was 1.303 million barrels up from the previous week, according to the state Energy Information Administration (EIA). Analysts polled by Dow Jones Newswires had expected a decline of 0.2 million barrels. In the previous week, inventories increased by 0.691 million barrels.

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In the data published the day before by the American Petroleum Institute (API), a decrease of 3.5 million barrels was recorded. Gasoline stocks fell 2.23 million barrels, according to the Energy Information Administration. Analysts had expected a decline of only 0.3 million barrels after inventories fell by 1.573 million in the previous week. API data showed a decrease of 4.5 million barrels. US oil production for the week was flat at 11.9 million barrels per day. Compared to the same period last year, there was an increase of 1.0 million barrels.

Website: http://www.eia.gov/pet oil/supply/weekly/

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DJG / DJN / Hap / Sha

(end) Dow Jones Newswires

May 04, 2022, 10:37 am EST (14:37 GMT)

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