SunSirs: EIA: US Crude Oil Inventories unexpectedly Increased 3.6 Million Barrels Last Week

https://www.chemnet.com   Jun 27,2024 SunSirs

According to foreign sources on June 26th, a report released by the US Energy Information Agency (EIA) on Wednesday showed that US crude oil and gasoline inventories increased last week, while distillate inventories declined.

According to EIA data, as of the week ending June 21, US crude oil inventories increased by 3.6 million barrels to 460.7 million barrels, while analysts had previously expected a decrease of 2.9 million barrels.

The crude oil inventory in Cushing, Oklahoma decreased by 226,000 barrels per day.

The EIA stated that the crude oil processing volume of the refinery decreased by 233,000 barrels per day that week.

The utilization rate of refinery capacity has decreased by 1.3 percentage points.

As of the week ending June 21st, US gasoline inventories increased by 2.7 million barrels to 233.9 million barrels, with analysts expecting a decrease of 1 million barrels.

During the week, distillate oil inventories, including heating oil and diesel, decreased by 400,000 barrels to 121.3 million barrels, following market expectations of a decrease of 300,000 barrels.

The EIA also stated that the net import of US crude oil increased by 65,000 barrels per day that week.

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