ANL 33.20 Decreased By ▼ -1.15 (-3.35%)
ASC 15.43 Increased By ▲ 1.03 (7.15%)
ASL 23.86 Decreased By ▼ -0.14 (-0.58%)
AVN 89.25 Decreased By ▼ -2.20 (-2.41%)
BOP 7.78 Increased By ▲ 0.08 (1.04%)
BYCO 9.71 Increased By ▲ 0.07 (0.73%)
DGKC 115.00 Decreased By ▼ -0.50 (-0.43%)
EPCL 50.50 Decreased By ▼ -0.51 (-1%)
FCCL 23.40 Increased By ▲ 0.10 (0.43%)
FFBL 26.40 Increased By ▲ 0.40 (1.54%)
FFL 16.18 Increased By ▲ 0.28 (1.76%)
HASCOL 9.29 Increased By ▲ 0.29 (3.22%)
HUBC 79.00 Increased By ▲ 0.05 (0.06%)
HUMNL 6.10 Decreased By ▼ -0.15 (-2.4%)
JSCL 20.40 Increased By ▲ 0.24 (1.19%)
KAPCO 40.21 Increased By ▲ 0.05 (0.12%)
KEL 3.90 Decreased By ▼ -0.09 (-2.26%)
LOTCHEM 14.20 Decreased By ▼ -0.15 (-1.05%)
MLCF 44.50 Decreased By ▼ -0.50 (-1.11%)
PAEL 32.27 Decreased By ▼ -0.27 (-0.83%)
PIBTL 9.99 Increased By ▲ 0.15 (1.52%)
POWER 8.80 Decreased By ▼ -0.05 (-0.56%)
PPL 82.80 Increased By ▲ 1.21 (1.48%)
PRL 24.95 Increased By ▲ 1.31 (5.54%)
PTC 9.26 Increased By ▲ 0.04 (0.43%)
SILK 1.35 Decreased By ▼ -0.02 (-1.46%)
SNGP 43.68 Increased By ▲ 1.88 (4.5%)
TRG 182.80 Increased By ▲ 4.62 (2.59%)
UNITY 41.25 Increased By ▲ 2.87 (7.48%)
WTL 1.68 Decreased By ▼ -0.01 (-0.59%)
BR100 4,959 Increased By ▲ 32.4 (0.66%)
BR30 25,887 Increased By ▲ 233.44 (0.91%)
KSE100 45,982 Increased By ▲ 191.46 (0.42%)
KSE30 18,826 Increased By ▲ 108.77 (0.58%)

Coronavirus
VERY HIGH
Pakistan Deaths
19,752
13524hr
Pakistan Cases
882,928
256624hr
Sindh
299,913
Punjab
328,775
Balochistan
23,931
Islamabad
79,371
KPK
127,224
Markets

US crude stockpiles fall, gasoline inventories surge: EIA

  • Crude stocks at the Cushing, Oklahoma, delivery hub for US futures fell by 1.5 million barrels in the last week, the EIA said.
  • US gasoline stocks rose by 4.5 million barrels in the week to 252.2 million barrels, the EIA said,
03 Feb 2021

US crude oil stockpiles fell while gasoline inventories jumped last week, the Energy Information Administration said on Wednesday.

Crude inventories fell by 994,000 barrels in the week to Jan. 29 to 475.7 million barrels, their lowest since March. Analysts in a Reuters poll had forecast a 446,000-barrel rise.

Crude stocks at the Cushing, Oklahoma, delivery hub for US futures fell by 1.5 million barrels in the last week, the EIA said.

US gasoline stocks rose by 4.5 million barrels in the week to 252.2 million barrels, the EIA said, compared with analysts' expectations in a Reuters poll for a 1.1 million-barrel rise.?

Prices across the energy complex dipped slightly after the report. US crude futures were still up on the day, rising 1.8% to $55.76 a barrel, while Brent rose 1.8% to $58.47 a barrel. Oil prices are sitting near 11-month highs on anticipation of economic recovery and as crude-producing nations constrain supply.

US gasoline futures also pared gains after the data, but was last trading 1.7% higher on the day at $1.6432 a gallon.

Refinery crude runs fell by 80,000 barrels per day last week, as utilization rates rose by 0.6 percentage points, the EIA said.

Distillate stockpiles, which include diesel and heating oil, fell by 9,000 barrels in the week to 162.8 million barrels, versus expectations for a 429,000-barrel drop, the EIA data showed.

Net US crude imports rose by 1.3 million bpd, data showed.