2/12, 4:30 PM (Source: TeleTrader)
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EIA: US crude inventories up by 7.45M barrels

Crude oil inventories in the United States increased by 7.45 million barrels in the week ending February 7 to 442.45 million barrels, the US Energy Information Administration (EIA) said on Wednesday. The figure topped the estimates that saw it rising by nearly 3 million barrels. In the week ending January 31, crude oil inventories in the US increased by 3.35 million barrels.

Meanwhile, crude oil imports averaged 7 million barrels per day in the week ending February 7, a jump of 363,000 barrels per day from the previous week. Gasoline production slid last week, standing at 9.2 million barrels per day while distillate fuel output dropped to 4.8 million barrels per day.

The crude oil refinery inputs rose by 48,000 per day last week to average 16 million barrels per day while refineries operated at 88% of their capacity. Total motor gasoline inventories slid by 0.1 million barrels over the same period and were 3% above the five year average for this period of the year.

Breaking the News / GA