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Markets

US crude stocks fell last week

  • Crude stocks at the Cushing, Oklahoma, delivery hub rose by 131,000 barrels, API said.
30 Dec 2020

NEW YORK: US crude oil stocks fell in the most recent week, data from industry group the American Petroleum Institute showed on Tuesday.

Crude inventories fell by 4.8 million barrels in the week to Dec. 25 to about 492.9 million barrels, exceeding analysts' expectations in a Reuters poll for a draw of 2.6 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 131,000 barrels, API said.

Refinery crude runs rose by 164,000 barrels per day, API data showed.

Gasoline stocks fell by 718,000 barrels, in contrast to analysts' expectations in a Reuters poll for a build of 1.7 million barrels.

Distillate fuel inventories, which include diesel and heating oil, fell by 1.9 million barrels, counter to expectations for a build of 529,000 barrels.