U.S. Crude Stocks Fall, Gasoline Inventories Rise: EIA

SEATTLE (Oil Monster):  The Energy Information Administration (EIA) reported that U.S. crude stocks and distillate inventories decreased, while gasoline inventories increased. Crude inventories dropped by 2.2 million barrels to 414.1 million barrels, slightly surpassing analysts’ expectations. However, crude stocks at the Cushing, Oklahoma, delivery hub increased by 132,000 barrels. Refinery crude runs fell by 463,000 barrels per day, and refinery utilization rates decreased by 2.2 percentage points.

On the other hand, gasoline stocks rose by 6.5 million barrels to 227 million barrels, which exceeded expectations for a 200,000 barrel increase. Distillate stockpiles, which include diesel and heating oil, declined by 1.3 million barrels to 118.8 million barrels, avoiding projections of a 300,000 barrel drop.

Additionally, net U.S. crude imports decreased by 1.96 million barrels per day. These inventory changes impact global markets as they reflect the supply and demand dynamics of the U.S. oil industry.

Courtesy: www.daytoncountyregister.com