Commercial crude oil stocks fell by 1.9 million barrels last week, while gasoline stocks rose and distillate stocks fell, the EIA said. The decline marks the fourth consecutive weekly draw, signaling continued tightness in the U.S. oil market. Analysts noted the drawdown comes amid steady demand and limited supply additions.
Gasoline inventories increased, suggesting healthy consumer fuel usage, while distillate stocks decreased, reflecting strong heating and diesel demand. The report adds to market volatility as traders assess the implications for winter fuel supplies and overall energy pricing.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing