US crude oil inventories decreased during the week ended Dec. 27, marking their fifth consecutive weekly decline.
Data released today, Dec. 27, by the US Energy Information Administration (EIA) showed that commercial crude oil inventories fell by 4.2 million barrels last week, compared to expectations of a 1.1-million-barrel drop.
Meanwhile, gasoline inventories increased by 1.6 million barrels, while distillate stocks—including diesel and heating oil—declined by about 1.7 million barrels.
