The ISM Services Index decreased to 52.8 in April, lower than the expected level of 57.6, after decreasing to 57.3 in March and increasing to 59.7 in February. The index’s complement, the ISM Manufacturing Index decreased to 60.4 on Monday after decreasing to 61.2 in March.
Crude inventories increased by 3.4 million barrels, for the week ending April 29, from the previous week to 366.5 million barrels and were above the upper limit of the average range for that time of year. U.S. crude oil refinery inputs averaged about 14.1 million barrels per day during this period, 18 thousand barrels per day below the previous week’s average. U.S. crude oil imports averaged just under 8.9 million barrels per day, down by 389 thousand barrels per day from the previous week.
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