US Crude Oil Inventories Rise, Prices Surge
Update: 2025-12-24
Description
U.S. crude oil inventories increased by 2.4 million barrels, reversing the previous weeks decline, according to API data. Despite this, crude inventories have shown a net decrease of 6.7 million barrels so far this year. U.S. production dipped slightly to 13.843 million barrels per day, still up 270,000 barrels per day from the start of the year. Prices reacted positively, with Brent crude trading at $62.47 per barrel, up 0.64% on the day and nearly 4% higher week over week. Gasoline inventories climbed another 1.1 million barrels, while distillates rose by 700,000 barrels. Cushing stocks grew by 600,000 barrels after a drop the week before. Overall, these mixed signals point to steady demand amid refilling efforts, keeping oil markets on an upward tilt for now.
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