Foreign news on September 7, a report released by the U.S. Energy Information Administration (EIA) on Thursday showed that U.S. crude oil and gasoline inventories fell more than expected last week, while distillate inventories increased.
U.S. crude oil inventories fell by 6.3 million barrels to 416.64 million barrels in the week ended September 1, compared with analysts’ expectations of a decrease of approximately 2.1 million barrels.
EIA said that crude oil inventories in Cushing, Oklahoma, the delivery place for NYMEX crude oil futures, decreased by 1.8 million barrels.
U.S. refinery crude processing capacity increased by 20,000 barrels per day last week. Refinery capacity utilization fell 0.2% from the previous week.
The EIA report showed that U.S. gasoline inventories fell by 2.7 million barrels in the week to September 1 to 214.75 million barrels. Analysts had previously expected a drop of 950,000 barrels.
Inventories of distillates, including heating oil and diesel, increased by 679,000 barrels that week to 118.6 million barrels, while analysts expected an increase of about 240,000 barrels.
U.S. net crude oil imports decreased by 250,000 barrels per day.
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