The ISM Services Index increased to 57.1 in December, higher than the expected level of 55.5, after increasing to 55 in November and increasing to 54.3 in October. The index’s complement, the ISM Manufacturing Index increased to 57 on last Monday’s release after decreasing to 56.6 in November.
Crude inventories decreased by 4.2 million barrels, for the week ending December 31, from the previous week to 335.3 million barrels and were above the upper limit of the average range for this time of year. U.S. crude oil refinery inputs averaged 15.0 million barrels per day during this period, 59 thousand barrels per day above the previous week’s average. U.S. crude oil imports were averaging 8.4 million barrels per day, down by 367 thousand barrels per day from the previous week.
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