7/3, 4:30 PM (Source: TeleTrader)
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EIA: US oil inventories down by 1.1M barrels

Crude oil inventories in the United States decreased by 1.1 million barrels in the week ending June 28 to 468.5 million barrels, the US Energy Information Administration (EIA) reported on Wednesday.

Crude oil refinery inputs were at an average of 17.3 million barrels per day, declining by 47,000 barrels per day from the previous week. Refineries' operable capacity was at 94.2% and gasoline production fell from the week before, averaging 9.9 million barrels per day.

Imports of crude oil in the US averaged 7.6 million barrels per day, jumping 929,000 barrels per day from the previous week. Total commercial petroleum inventories were 2.5 million barrels higher compared to the previous week.

Breaking the News / VP