Analysts surveyed by The Wall Street Journal had predicted crude stockpiles would decrease by 2.5 million barrels. Storage in the SPR rose by 629,000 barrels, to 352.5 million barrels. Oil stored at Cushing, Okla., the Nymex delivery hub, rose by 1.7 million barrels, to 32.5 million barrels. Gasoline stockpiles rose by 2.7 million barrels, to 226.7 million barrels, against expectations of a 700,000-barrel rise in the Journal survey. Distillate stocks, mostly diesel fuel, increased by 1.5 million barrels, to 115 million barrels, and were 10% below the five-year average.

Source: Wall Street Journal December 21, 2023 04:54 UTC