Washington:The US Energy Information Administration (EIA) reported a decline in oil and distillate inventories in the United States, while gasoline stocks saw an increase over the past week.
According to Qatar News Agency, the EIA stated that crude oil inventories fell by 3.2 million barrels to 424.1 million barrels, surpassing expectations for a decline of 1.7 million barrels. In contrast, crude inventories at the Cushing, Oklahoma, delivery hub rose by 444,000 barrels during the same period.
The report also highlighted an increase in refinery crude runs, which rose by 223,000 barrels per day. Alongside this, refinery utilization rates increased by 0.2 percentage points, reaching 92.7 percent.
US gasoline inventories increased by 0.4 million barrels to 204.7 million barrels, defying expectations for a decline of 1.7 million barrels. Meanwhile, distillate inventories, including diesel and heating oil, remained relatively stable at 105.1 million barrels, contrary to expectations for a decline of 2.1 million barrels.
Additionally, the EIA noted that US net crude imports decreased by 53,000 barrels per day.