U.S. Crude Inventories Fall As Brent Prices Soar

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U.S. crude oil inventories decreased by 400,000 barrels to reach 424.1 million barrels, aligning with the five-year average for this season. This decline in stockpiles coincides with rising Brent crude prices, indicating shifts in the energy markets.

Crude oil inventories in the United States saw a decrease of 400,000 barrels during the week ending September 4, according to new data from the U.S. Energy Information Administration (EIA) released on Thursday. The decrease brings commercial stockpiles to 424.1 million barrels, according to government data, which are now on par with the five-year average for this time of year. The EIA’s data release follows API’s figures that were released a day earlier, which reported that crude oil inventories had fallen by 300,000 barrels in the…