Global Finance News
30 Sep 2026, 14:56
U.S. Crude Inventories Rise as Atlanta Fed GDPNow Estimate Drops to 3.7%
U.S. crude oil inventories increased by 922,000 barrels in the latest weekly report, contrary to expectations for a 700,000-barrel decline. The previous reading showed a much larger 2.969 million-barrel build.
Inventories at Cushing, Oklahoma, also rose by 553,000 barrels after increasing by 2.266 million barrels previously, adding to signs of a looser near-term crude supply balance.
Separately, the Atlanta Fed’s GDPNow estimate for third-quarter U.S. economic growth fell sharply to 3.7% from 5.0%. The previous estimate had also stood at 5.0%.
For markets, the inventory build is a negative signal for crude prices because it suggests supply exceeded expectations during the week. At the same time, the lower GDPNow estimate points to softer expected economic growth, which could further weigh on oil demand expectations while supporting expectations for a less restrictive Federal Reserve stance.
U.S. crude oil inventories increased by 922,000 barrels in the latest weekly report, contrary to expectations for a 700,000-barrel decline. The previous reading showed a much larger 2.969 million-barrel build.
Inventories at Cushing, Oklahoma, also rose by 553,000 barrels after increasing by 2.266 million barrels previously, adding to signs of a looser near-term crude supply balance.
Separately, the Atlanta Fed’s GDPNow estimate for third-quarter U.S. economic growth fell sharply to 3.7% from 5.0%. The previous estimate had also stood at 5.0%.
For markets, the inventory build is a negative signal for crude prices because it suggests supply exceeded expectations during the week. At the same time, the lower GDPNow estimate points to softer expected economic growth, which could further weigh on oil demand expectations while supporting expectations for a less restrictive Federal Reserve stance.
