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Markets

US crude stocks rise, fuel inventories down: EIA

  • Crude inventories rose by 2.1 million barrels in week to July 16 to 439.7 million barrels, compared with analysts' expectations in a Reuters poll for a 4.5 million-barrel drop
21 Jul 2021

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

Crude inventories rose by 2.1 million barrels in week to July 16 to 439.7 million barrels, compared with analysts' expectations in a Reuters poll for a 4.5 million-barrel drop.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.3 million barrels in the last week, EIA said.

Refinery crude runs fell by 86,000 barrels per day in the last week, EIA said. Refinery utilization rates fell by 0.4 percentage points, in the week.

Oil extends gains despite rise in US inventories

US gasoline stocks fell by 121,000 barrels in the week to 236.4 million barrels, the EIA said, compared with analysts' expectations in a Reuters poll for a 1 million-barrel drop.

Distillate stockpiles, which include diesel and heating oil, fell by 1.3 million barrels in the week to 141 million barrels, versus expectations for a 557,000-barrel rise, the EIA data showed.

Net US crude imports rose by 2.4 million barrels per day, EIA said.