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Markets

US crude stocks slump, fuel inventories surge: EIA

  • Crude inventories fell by 8 million barrels in the last week to 485.5 million barrels, compared with analysts' expectations in a Reuters poll for a 2.1 million-barrel drop.
  • Refinery crude runs rose by 89,000 barrels per day in the last week, EIA said.
06 Jan 2021

US crude stocks fell while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday.

Crude inventories fell by 8 million barrels in the last week to 485.5 million barrels, compared with analysts' expectations in a Reuters poll for a 2.1 million-barrel drop.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 792,000 barrels in the last week, EIA said.

Refinery crude runs rose by 89,000 barrels per day in the last week, EIA said.

Refinery utilization rates rose by 1.3 percentage points in the week.

US gasoline stocks rose by 4.5 million barrels in the week to 241.1 million barrels, the EIA said, compared with analysts' expectations in a Reuters poll for a 1.5 million-barrel rise.?

Distillate stockpiles, which include diesel and heating oil, rose by 6.4 million barrels in the week to 158.4 million barrels, versus expectations for a 2.3 million-barrel rise, the data showed.

Net US crude imports rose last week by 36,000 barrels per day, EIA said.