COMMODITY
Crude oil futures end lower amid rise in US crude oil inventories
May-22-2025

Crude oil futures closed lower on Wednesday after a report released by the Energy Information Administration (EIA) showed crude oil inventories in the US unexpectedly increased in the week ended May 16. The EIA said crude oil inventories rose by 1.3 million barrels last week after jumping by 3.5 million barrels in the previous week, while street had expected crude oil inventories to fall by 1.9 million barrels. The report said gasoline inventories also edged up by 0.8 million barrels last week but remain about 2 percent below the five-year average for this time of year.

Benchmark crude oil futures for July declined $0.46 about 0.74% at $61.57 a barrel on the New York Mercantile Exchange. Brent crude for July delivery plunged $0.63 or 0.96% to settle at $64.91 a barrel on London's Intercontinental Exchange.

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