financetom
Economy
financetom
/
Economy
/
Weekly Crude Inventories Drop; Oil Jumps Amid Uncertainty Over Ukraine Peace Deal
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Weekly Crude Inventories Drop; Oil Jumps Amid Uncertainty Over Ukraine Peace Deal
Aug 20, 2025 11:43 AM

02:27 PM EDT, 08/20/2025 (MT Newswires) -- Commercial crude stockpiles in the US declined more than expected last week as motor gasoline inventories shrank, government data showed Wednesday.

Inventories of crude, excluding the strategic petroleum reserve, fell by 6 million barrels to 420.7 million barrels through the week ended Friday, the Energy Information Administration said. The consensus was for a draw of 850,000 barrels in a survey compiled by Bloomberg.

Motor gasoline stocks dropped by 2.7 million barrels. Propane and propylene inventories rose by 2.6 million barrels and distillate fuel added 2.3 million barrels. Total commercial petroleum inventories were down by 4.2 million barrels.

Gasoline output declined, while production of distillate fuel increased, according to the report.

West Texas Intermediate crude was up 1.3% at $63.18 a barrel in Wednesday afternoon trade, while Brent rose 1.6% to $66.85 a barrel.

"Oil prices rose after industry data showed a decline in US crude inventories, while uncertainty prevailed over Ukraine talks," D.A. Davidson said in a note e-mailed to MT Newswires on Wednesday.

On Tuesday, President Donald Trump said there will be no US troops to be deployed to defend Ukraine's border, according to a White House-released summary of an interview with Fox & Friends.

The remarks came after Trump's recent meeting with Russian President Vladimir Putin in Alaska, followed by talks with Ukraine President Volodymyr Zelenskiy and several European leaders at the White House on Monday.

Trump previously said there would be serious consequences if Moscow doesn't accept a ceasefire.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US retail sales strong in February; rising gasoline prices will hurt spending
US retail sales strong in February; rising gasoline prices will hurt spending
Apr 1, 2026
WASHINGTON, April 1 (Reuters) - U.S. retail sales increased by the most in seven months in February as motor vehicle purchases rebounded and temperatures warmed up, but surging gasoline prices because of war in the Middle East were expected to crimp spending in the months ahead. The Commerce Department's delayed report on Wednesday suggested that the economy was on solid...
Employment, Inflation Risks Tilt in Opposite Directions, Fed's Musalem Says
Employment, Inflation Risks Tilt in Opposite Directions, Fed's Musalem Says
Apr 1, 2026
03:03 PM EDT, 04/01/2026 (MT Newswires) -- Employment and inflation risks in the US have tilted in opposite directions, with ongoing geopolitical events seen keeping price growth above the Federal Reserve's target throughout this year, St. Louis Fed President Alberto Musalem said Wednesday. Consumers face soaring fuel costs as the US-Israel war with Iran has disrupted supply chains and intensified...
Factbox-Major cases involving Trump at the US Supreme Court
Factbox-Major cases involving Trump at the US Supreme Court
Apr 1, 2026
April 1 (Reuters) - The U.S. Supreme Court has dealt with a series of cases involving challenges to the actions of President Donald Trump and his administration since he returned to office in January 2025.  These cases have involved tariffs, birthright citizenship, the U.S. Federal Reserve, immigration policy, domestic troop deployment, transgender rights, firings of federal workers and agency officials,...
Federal Reserve Watch for April 1: Musalem Says Current Policy Appropriate, Could Support Higher or Lower Rates as Needed
Federal Reserve Watch for April 1: Musalem Says Current Policy Appropriate, Could Support Higher or Lower Rates as Needed
Apr 1, 2026
02:52 PM EDT, 04/01/2026 (MT Newswires) -- St. Louis Fed President Alberto Musalem (nonvoter) said that he could support rate decreases or rate increases depending on what conditions require but added that he believes that the current setting of policy will remain appropriate for some time. Recent comments of note: (March 31) Kansas City Fed President Jeffrey Schmid (nonvoter) said...
Copyright 2023-2026 - www.financetom.com All Rights Reserved