The U.S. Energy Information Administration announced today, Wednesday, that crude and gasoline inventories in the United States decreased last week, while distillate stocks increased. The agency's data showed that crude inventories fell by 7.5 million barrels over the past week to 473.7 million, compared to analysts' expectations surveyed by Reuters for an increase of 100,000 barrels. The agency reported that oil stocks at the delivery hub in Cushing, Oklahoma, dropped by 1.6 million barrels last week, and revealed that U.S. refinery consumption of crude rose by 437,000 barrels per day last week. Refinery utilization rates decreased by 1.7 percentage points over the week. In contrast, gasoline inventories fell by 2.9 million barrels to 226.7 million, compared to analysts' expectations in the Reuters survey for a decline of 1.6 million barrels.
U.S. Crude Inventories Drop More Than Expected!
Share
