CAPITALSTARS MCX COMMODITY CRUDE OIL NEWS UPDATE : 08 August 2019

Capitalstars Investment Advisor

Energy Preview: EIA Crude Inventories Up 4% Compared To 5 Year Average 

The US crude oil inventories increased during the week ending August 2, the US Energy Information Administration (EIA) said in a report on Wednesday. According to the Weekly Petroleum Status Report of the EIA, US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, increased by 2.4 million barrels from the previous week. At 438.9 million barrels, US crude oil inventories were about 2% above the five-year average for this time of year. According to the EIA, total motor gasoline inventories rose by 4.4 million barrels last week and were about 4% above the five-year average for this time of year. Finished gasoline and blending components inventories both increased last week. Distillate fuel inventories increased by 1.5 million barrels last week and were about 1% below the five-year average for this time of year. Propane/propylene inventories increased by 2.9 million barrels last week and were about 8% above the five-year average for this time of year. Total commercial petroleum inventories increased by 10.4 million barrels last week.

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