Wednesday, February 4, 2026 at 4:27 PM
U.S. crude oil inventories decreased by 3.5 million barrels due to lower production, while imports rose, according to the latest data from the Energy Information Administration.
Commercial crude oil inventories rose by 8.5 million barrels. They were expected to have fallen by 400,000 barrels.
Oil prices slipped after rising more than 1% in the previous session, with focus on U.S.-Iran developments.
Oil demand is projected to rise by 1.34 million barrels a day next year supported by easing inflation, fiscal measures and improving global trade.
Oil fell in early Asian trade amid possible position adjustments
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