U.S. crude stocks, gasoline and distillate inventories fell last week: EIA

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 92%

Energy News

Business Business Latest News,Business Business Headlines

U.S. crude inventories fell by 12.2 million barrels to 448.5 million barrels in the week ending June 28

U.S. crude stocks plunged by much more than expected last week as refiners cranked up activity and exports increased, while gasoline and distillate inventories also fell, the Energy Information Administration said on Wednesday.

“Strong exports, a slight drop in imports, and a rebound in refinery runs colluded to draw crude inventories by a whopping 12 million barrels,” said Kpler oil analyst Matt Smith. Refinery crude runs were up by 260,000 barrels per day, the EIA said, while refiners’ utilization rates rose by 1.3 percentage points.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in BUSİNESS

Business Business Latest News, Business Business Headlines