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Breaking: Oil Inventories Dropped by 2.55M Last Week – EIA

© Reuters.

By Kim Khan – Stockpiles of fell more than expected in the latest week, the Energy Administration reported Wednesday, but stockpiles of refined products such as gasoline and distillates both leaped.

fell by 2.55 million barrels for the week ended Jan. 10, the EIA said. Analysts were looking for drop of 474,000 barrels.

jumped by about 6.7 million barrels, compared with expectations for a build of about 3.4 million barrels. soared by about 8.2 million barrels, versus expectations for a rise of about 1.2 million barrels.

fell 0.8%. They were down about 0.4% before the inventory numbers came out.

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