9/10, 5:00 PM (Source: TeleTrader)
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EIA: US crude inventories up by 2M barrels

Crude oil stockpiles in the United States increased by 2 million barrels compared to the previous week to land at 500.4 million barrels in the week ending September 4, the US Energy Information Administration (EIA) unveiled in its weekly report on Thursday.

Crude imports averaged 5.4 million barrels per day last week, slipping by 0.5 million barrels per day compared to the week prior. Gasoline production went down in the same week, landing at 8.9 million barrels per day. Oil refinery inputs declined by 1.1 million barrels per day on a weekly basis to 12.8 million barrels per day in the week ending September 4, while refineries operated at 71.8% of their capacity in the same seven-day period.

West Texas Intermediate (WTI) for October's delivery slid 1.21% to sell for $37.59 per barrel at 10:57 am ET, while Brent for settlements in November surrendered 0.93% a minute later, trading at $40.41 per barrel.

Breaking the News / GA