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US crude stocks slump more than expected: EIA

  • Crude inventories fell by 8 million barrels in the week to April 30 to 485.1 million barrels, compared with analysts' expectations in a Reuters poll for a 2.3 million-barrel drop.
  • Refinery crude runs rose by 225,000 barrels per day in the last week, EIA said.
Published May 5, 2021
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US crude stocks and distillate inventories fell while gasoline inventories rose, the Energy Information Administration said on Wednesday.

Crude inventories fell by 8 million barrels in the week to April 30 to 485.1 million barrels, compared with analysts' expectations in a Reuters poll for a 2.3 million-barrel drop.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 254,000 barrels in the last week, EIA said.

Refinery crude runs rose by 225,000 barrels per day in the last week, EIA said.

Refinery utilization rates rose by 1.1 percentage points, in the week.

US gasoline stocks rose by 737,000 barrels in the week to 235.8 million barrels, the EIA said, compared with analysts' expectations in a Reuters poll for a 652,000-barrel drop.

Distillate stockpiles, which include diesel and heating oil, fell by 2.9 million barrels in the week to 136.2 million barrels, versus expectations for a 1.1 million-barrel drop, the EIA data showed.

Net US crude imports fell by 2.8 million barrels per day, EIA said.

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