7/29, 4:30 PM (Source: TeleTrader)
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EIA: US crude inventories drop by 10.6 million barrels

Commercial crude oil inventories in the United States, excluding inventories in the Strategic Petroleum Reserve, fell by 10.6 million barrels to 526 million barrels in the week ending July 24, the US Energy Information Administration (EIA) reported on Wednesday. The figure marks the largest weekly drop in US stockpiles since the start of the year.

US crude oil refinery inputs averaged 14.6 million barrels per day, up by 389,000 barrels per day from the previous week. Refineries operated at 79.5% of their capacity, while gasoline production rose, averaging 9.2 million barrels per day.

Imports of crude oil in the US averaged 5.1 million barrels per day, declining by 800,000 barrels per day compared to the previous week. Total commercial petroleum inventories decreased by 6.5 million barrels.

Breaking the News / NP