US Crude Oil Inventories Dip as Gasoline Stocks Rise

US crude oil inventories declined by 0.2% in the week ending September 11, according to data released by the Energy Information Administration (EIA) on Wednesday.

The total decrease was approximately 600,000 barrels, bringing the commercial crude stocks to around 423.4 million barrels.

Market expectations had forecasted a larger drop of about 1.6 million barrels.

In contrast, gasoline inventories saw an increase of about 800,000 barrels, reaching approximately 207.7 million barrels over the same period.