By Kirk MaltaisU.S. crude oil stocks fell 2.5 million barrels last week, according to data released Wednesday by the U.S. Energy Information Administration. Commercial crude-oil stocks excluding the Strategic Petroleum Reserve fell by barrels to 457 million barrels in the week ended May 10, the EIA said. Analysts surveyed by The Wall Street Journal had predicted crude stockpiles would fall by 1.1 million barrels. Oil stored in the SPR rose by 593,000 barrels to 367.8 million barrels. Distillate fuel stocks fell 45,000 barrels to 116.4 million barrels, and were 7% below the five-year average.

Source: Wall Street Journal May 15, 2024 16:07 UTC