News Formal

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

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 15 sec. here
  • 13 min. at publisher
  • 📊 Quality Score:
  • News: 47%
  • Publisher: 92%

Energy News

Week,Barrel,Barrels

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 702,000 barrels in the week ended July 5

U.S. crude and gasoline stocks fell by more than expected last week as refineries ramped up activity, while distillate stocks rose, the Energy Information Administration said on Wednesday.Crude inventories fell by 3.4 million barrels to 445.1 million barrels in the week ended July 5, the EIA said on Wednesday, compared with analysts’ expectations in a Reuters poll for a 1.3 million-barrel draw.

Refinery crude runs rose by 317,000 barrels per day, while utilization rates rose by 1.9 percentage points in the week, the EIA said. “Despite higher refining activity, gasoline inventories drew amid ongoing strong implied demand ahead of the long holiday weekend,” Smith said.

 

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

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. crude stocks, gasoline and distillate inventories fell last week: EIAU.S. crude inventories fell by 12.2 million barrels to 448.5 million barrels in the week ending June 28
Source: globeandmail - 🏆 5. / 92 Read more »