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10/20, 4:33 PM (Source: TeleTrader)
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EIA: Crude oil inventories in US down by 0.4M barrels

Commercial crude oil stockpiles in the United States decreased by 0.4 million barrels in the week ending October 15, the US Energy Information Administration reported on Wednesday. The inventory now stands at 426.5 million barrels, which is 6% below the five-year average for this time of year.

At the same time, crude oil refinery inputs in the US averaged 15.0 million barrels per day, decreasing 71,000 barrels per day compared to the previous week. Last week, refineries operated at 84.7% of their operable capacity, as gasoline production increased last week to an average of 10.1 million barrels per day.

Lastly, US crude oil imports averaged 5.8 million barrels per day, marking a week-on-week decline of 169,000 barrels. Total commercial petroleum inventories decreased by 9.8 million barrels last week.

Breaking the News / IB