US crude oil stockpiles dipped to their lowest level in a year last week, while fuel inventories rose, the Energy Information Administration (EIA) said.
Crude inventories fell by 1.6 million barrels to 417.5 million barrels in the week ending Sept. 13, the EIA said, compared with analysts’ expectations for a 500,000-barrel draw.
At the Cushing, Oklahoma, delivery hub for US crude futures (USOICC=ECI), opens new tab, stocks fell by 2 million barrels, the EIA said. Refinery crude runs (USOICR=ECI), opens new tab fell by 282,000 barrels per day, and refinery utilization rates (USOIRU=ECI), opens new tab slipped 0.7 percentage point to 92.1% of total capacity.
Gasoline stocks (USOILG=ECI), opens new tab rose by 100,000 barrels to 221.6 million barrels, the EIA said, less than forecasts for a 200,000-barrel build. Distillate stockpiles (USOILD=ECI), opens new tab, which include diesel and heating oil, rose by 100,000 barrels to 125.1 million barrels, versus expectations for a 600,000-barrel rise.
Net US crude
imports (USOICI=ECI), opens new tab fell by 1.8 million barrels per day, the EIA said.
Source: Qatar News Agency