Crude oil stocks in the United States increased by 5.52 million barrels in the weekly period up to and including February 2, new figures from the federal agency EIA, which is subordinate to the US Department of Energy, show.
It is the biggest increase since mid-November – and a bigger increase than expected, according to Trading Economics. The consensus pointed to an increase of 1.895 million barrels.
In the wake of the publication, the April contract for Brent oil rose 0.6 percent to $79.10 a barrel and the US WTI oil rose 0.7 percent to $73.90 a barrel. barrel.
Unexpected gas draw
However, there was an unexpected drop in petrol stocks last week. The latest figures show an inventory draw of 3.15 million barrels, while the expectation was a growth of 0.14 million.
Distillate stocks fell by 3.22 million barrels, while the expectation ahead pointed to a stock draw of 1.0 million barrels.
The week before, crude oil stocks increased by 1.23 million barrels and gasoline stocks by 1.16 million barrels, while distillate stocks shrank by 2.54 million barrels.
The American Petroleum Institute’s oil inventory count on Tuesday showed an increase in crude oil inventories of 0.7 million barrels last week.
2024-02-07 16:46:27
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