SunSirs: EIA: US Crude Oil Inventories Fell Last Week, Gasoline and Distillate Inventories Increased

https://www.chemnet.com   Jul 18,2024 SunSirs

According to foreign news on July 17th, a report released by the US Energy Information Administration (EIA) on Wednesday showed that US crude oil inventories declined last week, while gasoline and distillate inventories increased.

According to EIA data, as of the week ending July 12th, US crude oil inventories decreased by 4.9 million barrels last week to 440.23 million barrels, with analysts expecting a decrease of 33,000 barrels.

EIA data shows that the inventory of crude oil from Cushing, Oklahoma, the delivery location of NYMEX crude oil futures, decreased by 875,000 barrels.

EIA stated that the crude oil processing capacity of refineries decreased by 181,000 barrels per day. The utilization rate of refinery capacity decreased by 1.7% compared to the previous week.

That week, US gasoline inventories increased by 3.3 million barrels to 232.99 million barrels, with market estimates suggesting a decline of 1.6 million barrels.

That week, the inventory of distillate oil, including diesel and heating oil, increased by 3.5 million barrels to 128.07 million barrels, with a market estimate of a decrease of 800,000 barrels.

The net import volume of crude oil in the United States increased by 312,000 barrels per day that week.

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