EIA: U.S. crude stocks fall amid strong exports, refining activity
Exports and refinery runs rose as commercial crude stockpiles fell to 424.1 million barrels, the EIA said, while gasoline inventories moved higher.
- The U.S. Energy Information Administration reported Wednesday that crude oil inventories in the United States fell by 3.2 million barrels during the week ending October 2, to 424.1 million barrels.
- Rising exports and refinery activity drove the decline; exports surged by 1.2 million barrels per day to 4.77 million, while refinery crude runs increased by 223,000 barrels daily, the EIA said.
- Gasoline stocks rose by 382,000 barrels to 204.7 million, while distillate stockpiles remained little changed at 105.1 million barrels versus expectations for a 2.1 million barrel drop.
- Brent crude traded at $100.90 per barrel on Wednesday, up 0.62% on the day, while West Texas Intermediate futures also gained, trading at $89.92 per barrel.
- Hurricane Isaias threatens to disrupt the Gulf Coast later this week, potentially affecting offshore production and refining facilities. Any fuel production disruption could further spike prices already elevated by global supply shortages.
19 Articles
19 Articles
Oil stocks in the United States fell by 3,186 million barrels in the week closed last Friday (2), reported on this Wednesday (7), the Department of Energy (DoE) of the country. The result came against the projection of 1.7 million barrels high, by economists consulted by the Wall Street Journal. With the fall, oil stocks totaled 424,134 million barrels. According to DoE, gasoline stocks rose by 382,000 barrels — to 204,744 million barrels — agai…
Within a week, US oil reserves declined by 3.2 million barrels, accounting for 424.1 million barrels, reported by the US Department of Energy. US oil reserves dropped by 3.2 million barrels in a week and totalled 424.1 million barrels on 2 October, transferring TASS with reference to the US Department of Energy. The agency specified that the current reserves were 1 per cent higher than the five-year average for this time of the year. Against the…
US Crude Inventories Slide
The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 2.09 million barrels in the week ending Oct 2. In the week prior, US crude oil inventories grew by 1.019 million barrels. Commercial crude oil inventories excluding the SPR have lost more than 38 million barrels over the last 25 weeks, but US crude inventories are up nearly 13 million for the year, according to API data, kept in check in part…
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