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NewsBreak: Oil Inventories Rose by 1.38M Last Week

Published 20/11/2019, 10:28
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Investing.com - Oil inventories rose a little less than expected last week, the Energy Information Administration reported Wednesday, sending crude prices higher.

  • Crude stockpiles rose by 1.38 million barrels for the week ended Nov. 15, the EIA said. The market was expecting a build of about 1.54 million barrels, according to forecasts compiled by Investing.com.

  • Gasoline inventories rose by about 1.8 million barrels, versus analysts’ expectations for a rise of 870,000 barrels. Distillate stockpiles fell by about 1 million barrels, compared with forecasts for a decline of about 730,000 barrels.

  • WTI futures were up 1.4%. Prices were up about 0.8% before the report was released.

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