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Crude Oil Stockpiles in the US Jumped by 4.6M Barrels-EIA

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Two yellow barrels

U.S. crude oil inventories unexpectedly rose in the latest week, rising 4.578 million barrels, compared with analysts’ forecasts for a draw of 1.652 million barrels.

  • Distillate stockpiles, which incorporate diesel and heating oil, increased by 385,000 barrels in the week against expectations of 1.648 million barrels.
  • US crude oil refinery inputs rose by 67,000 barrels per day for the week ending September 24 than the previous week’s average to reach 15.4 million barrels per day.
  • Oil refineries operated at near full capacity, 88.1% last week. Gasoline production also rose last week, hovering at 9.9 million barrels per day.
  • The total products supplied in the last four-week duration rose by 13.7%, averaging 20.4 million barrels per day, from the same period in 2020.

Over the last four weeks, motor gasoline product supplied rose by 8.5%, as distillate fuel and jet fuel products supplied in the same period also increased by 12.3% and 64.0%, respectively.

CL 1! Up +0.46%, USOIL up +1.79%

Source:barrels

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