U.S. Crude Oil Inventories Pull Back But Gasoline Inventories Inch Higher
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A report from the Energy Information Administration indicates that U.S. crude oil inventories decreased by 2.3 million barrels for the week ending January 23rd, following a prior increase of 3.6 million barrels. Current inventories stand at 423.8 million barrels, approximately 3% below the five-year average. In contrast, gasoline inventories rose by 0.2 million barrels, now about 5% above the five-year average, while distillate fuel inventories increased by 0.3 million barrels, approximately 1% above the five-year average.
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