# Crude oil futures decline as US petroleum product inventories rise - The HinduBusinessLine

> US EIA data for the week ending June 2 showed higher US gasoline and distillate inventories, while crude stocks fell by 0.5 million barrels. Brent traded near $76.73 and WTI near $72.33 in early trade. Indian MCX crude futures also declined.

- Date: 2023-06-08 · published 2023-06-08T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/35608-crude-oil-futures-decline-as-us-petroleum-product-inventories-rise-the
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Rising product stocks weigh on energy prices, which can lower biofuel and feed-input costs but have a limited direct effect on feed grain prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- thehindubusinessline.com: https://www.thehindubusinessline.com/markets/commodities/crude-oil-futures-decline-as-us-petroleum-product-inventories-rise/article66944926.ece

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.