HOUSTON, Sept. 26 (Xinhua) -- The U.S. Energy Information Administration (EIA) on Wednesday reported builds in both crude oil and gasoline inventories, which pressured oil prices downward.
EIA reported a build of 1.85 million barrels in the crude oil inventories of the United States for the week ending Sept. 21. The market was expecting a 2.7-million-barrel draw. The difference between the numbers was significant this week.
Meanwhile, U.S. gasoline inventories increased by 1.53 million barrels rather than a 100,000 draw that the market expected.
EIA also reported 2.24 million-barrel draw in the distillates inventories rather than a build of 800,000 barrels that the market was expecting.
According to EIA, the weekly U.S. crude oil output was 11.1 million barrels, 100,000 barrels per day higher than the previous week's levels.
About one hour following the report by EIA, West Texas Intermediate (WTI) October delivery traded at 71.86 U.S. dollars at New York Mercantile Exchange, down 0.42 dollars or 0.58 percent from its Tuesday settlement. While Brent November delivery traded at 81.49 dollars at ICE Futures Exchange, down 0.38 dollars or 0.46 percent from its Tuesday settlement.
