Commodities Buzz: US crude inventories fall by 400,000 barrels, EIA data shows

Crude oil inventories in the United States saw a decrease of 400,000 barrels during the week ending September 4, according to new data from the U.S. Energy Information Administration (EIA) released on Thursday. The decrease brings commercial stockpiles to 424.1 million barrels, according to government data, which are now on par with the five-year average for this time of year. The EIA?s data release follows API?s figures that were released a day earlier, which reported that crude oil inventories had fallen by 300,000 barrels in the period. For total motor gasoline, the EIA reported that inventories increased by 1.3 million barrels, after falling by 1.2 million barrels in the week prior.

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