U.S. Crude Oil Inventories Unexpectedly Fall By 3.6 Million Barrels

(RTTNews) - The Energy Information Administration released a report on Wednesday showing an unexpected decrease by U.S. crude oil inventories in the week ended June 6th.

The report said crude oil inventories fell by 3.6 million barrels last week after declining by 4.3 million barrels in the previous week. Economists had expected crude oil inventories to inch up by 0.1 million barrels.

At 432.4 million barrels, U.S. crude oil inventories are about 8 percent below the five-year average for this time of year, the EIA said.

Meanwhile, the EIA said gasoline inventories increased by 1.5 million barrels last week but remain about 2 percent below the five-year average for this time of year.

The report said distillate fuel inventories, which include heating oil and diesel, also rose by 1.2 million barrels last week but remain about 17 percent below the five-year average for this time of year.