Commodities Buzz: US crude oil inventories up 0.9 million barrels

The EIA stated that US commercial crude oil inventories (excluding the Strategic Petroleum Reserve) increased 0.9 million barrels to 427.3 million barrels, 2% above the five-year average. Gasoline inventories decreased 1.7 million barrels, 7% below the five-year average. Total commercial petroleum inventories decreased by 7.0 million barrels for the week. Over the past four weeks, total product supplied averaged 20.8 million b/d, up 2.1% year over year.

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