COMMODITY
Crude oil futures end lower as U.S. crude inventories rise
Mar-28-2024

Crude oil futures ended lower on Wednesday after data showed an unexpected increase in U.S. crude and gasoline inventories in the week ended March 22nd. Data from the Energy Information Administration (EIA) showed crude inventories jumped by about 3.2 million barrels last week, after slumping by 2 million barrel a week earlier. Crude inventories were expected to drop by 1.3 million barrels last week. The EIA data also showed that gasoline inventories rose by 1.3 million barrels last week, while distillate stockpiles dropped by 1.2 million barrels. 

Benchmark crude oil futures for May delivery fell $0.27 or about 0.33% to settle at $81.35 a barrel on the New York Mercantile Exchange. Brent crude for May delivery dropped by $0.16 or about 0.19% to $86.09 per barrel on London's Intercontinental Exchange. 


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