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6/17, 4:32 PM (Source: TeleTrader)
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EIA: US crude stockpiles jump by 1.2M barrels

Crude oil stockpiles in the United States increased by 1.2 million to now total 539.3 million barrels in the week ending June 12, the US Energy Information Administration recorded in its weekly report on Wednesday.

Meanwhile, crude oil imports averaged 6.6 million barrels per day last week, down by 222,000 barrels compared to the previous week. Production of gasoline increased to stand at 8.4 million barrels per day, according to the report.

The crude oil refinery inputs were 13.6 million barrels per day during the same week, 116,000 barrels per day more than the previous week’s average. The EIA stated that refineries operated at 73.8% of their operable capacity in the same period.

Breaking the News / BU