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U.S. crude stockpiles drop sharply - EIA

reuters.com · 09/01/2021 10:35
U.S. crude stockpiles drop sharply - EIA

- U.S. crude stocks and distillate inventories fell while gasoline inventories rose, the Energy Information Administration said on Wednesday.

Crude inventories USOILC=ECI fell by 7.2 million barrels in the week to August 27 to 425.4 million barrels, compared with analysts' expectations in a Reuters poll for a 3.1 million-barrel drop.

Crude stocks at the Cushing, Oklahoma, delivery hub USOICC=ECI rose by 836,000 barrels in the last week, EIA said.

Refinery crude runs USOICR=ECI fell by 134,000 barrels per day in the last week, EIA said. Refinery utilization rates USOIRU=ECI fell by 1.1 percentage points, in the week.

U.S. gasoline stocks USOILG=ECI rose by 1.3 million barrels in the week to 227.2 million barrels, the EIA said, compared with analysts' expectations in a Reuters poll for a 1.6 million-barrel drop.​

Distillate stockpiles USOILD=ECI, which include diesel and heating oil, fell by 1.7 million barrels in the week to 136.7 million barrels, versus expectations for a 650,000-barrel drop, the EIA data showed.

Net U.S. crude imports USOICI=ECI fell last week by 45,000 barrels per day, EIA said.


(Reporting By David Gaffen)

((david.gaffen@thomsonreuters.com; +1-646-223-6064; Reuters Messaging: david.gaffen.reuters.com@reuters.net))