04 Oct, 23

Oil Prices Tumble As The EIA Reports A Significant Gasoline Build

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Crude oil prices continued to move lower despite the Energy Information Administration report that inventories had shed 2.2 million barrels in the week to September 29. This compared with a draw of the same size estimated for the previous week by the EIA. A day earlier, the American Petroleum Institute reported an estimated inventory decline of 4.2 million barrels for the last week of September. In fuels, meanwhile, the EIA reported mixed inventory changes, but it was a build in gasoline and fears of weakening gasoline demand that traders paid…

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