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U.S. Crude Inventories Fall by 4.75M Barrels in Latest Week

Commodities Feb 09, 2022 10:48
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© Reuters.

By Noreen Burke

Investing.com -- U.S. crude inventories fell more than expected in the latest week, the Energy Information Administration said on Wednesday.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) fell by 4.756 million barrels last week, compared with analysts' expectations for a 0.369 million-barrel increase.

Distillate stockpiles, which include diesel and heating oil, fell by 0.929 million barrels in the week against expectations for a 1.739 million barrel drop, the EIA data showed.

Refinery crude runs rose by 0.329 barrels per day in the same period, EIA said. The weekly refinery utilization rate rose 1.5%, according to the report.

U.S. gasoline inventories fell by 1.644 million barrels last week, the EIA said, compared with expectations for a 1.623 million-barrel build.

U.S. Crude Inventories Fall by 4.75M Barrels in Latest Week
 

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