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The Energy Information Administration released a report on Wednesday showing crude oil inventories in the U.S. decreased by slightly more than expected in the week ended August 22nd.
The report said crude oil inventories fell by 2.4 million barrels after tumbling by 6.0 million barrels in the previous week. Economists had expected crude oil inventories to dip by 2.0 million barrels.
At 418.3 million barrels, U.S. crude oil inventories are about 6 percent below the five-year average for this time of year, the EIA said.
The EIA said gasoline inventories also slipped by 1.2 million barrels last week and are at the five-year average for this time of year.
Distillate fuel inventories, which include heating oil and diesel, also decreased by 1.8 million barrels last week and are about 15 percent below the five-year average for this time of year, the report said.
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