Thursday, June 4, 2026
Oil falls below $41 as U.S. inventory rise revives glut worries- oil and gas 360

Oil falls below $41 as U.S. inventory rise revives glut worries

Reuters LONDON  – Oil fell more than 1% to below $41 a barrel on Wednesday after a report showed a rise in crude inventories in the United States, reviving concerns about oversupply and weak demand because of the coronavirus crisis. The report from the American Petroleum Institute, an industry group, said crude stocks rose by 8.4 million barrels, rather than

U.S. crude oil inventories decrease by 2.0 million barrels- oil and gas 360

U.S. crude oil inventories increase by 5.7 million barrels

Weekly Crude Oil Storage as of June 5, 2020   U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 5.7 million barrels from the previous week. At 538.1 million barrels, U.S. crude oil inventories are about 14% above the five year average for this time of year, according to the EIA crude oil and petroleum