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Markets

US crude stocks drop, fuel inventories rise: EIA

  • Crude inventories fell by 3.5 million barrels in the week to April 2 to 501.8 million barrels, compared with analysts' expectations in a Reuters poll for a 1.4 million-barrel drop.
  • Crude stocks at the Cushing, Oklahoma, delivery hub fell by 735,000 barrels in the last week, EIA said.
07 Apr 2021

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

Crude inventories fell by 3.5 million barrels in the week to April 2 to 501.8 million barrels, compared with analysts' expectations in a Reuters poll for a 1.4 million-barrel drop.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 735,000 barrels in the last week, EIA said.

Refinery crude runs rose by 103,000 barrels per day in the last week, EIA said. Refinery utilization rates rose by 0.1 percentage points, in the week.

US gasoline stocks rose by 4 million barrels in the week to 230.5 million barrels, the EIA said, compared with analysts' expectations in a Reuters poll for a 221,000-barrel drop.?

Distillate stockpiles, which include diesel and heating oil, rose by 1.5 million barrels in the week to 144.1 million barrels, versus expectations for a 486,000-barrel rise, the EIA data showed.

Net US crude imports fell last week by 141,000 barrels per day, EIA said.