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7/14, 5:33 PM (Source: TeleTrader)
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EIA: Crude oil inventories in US down by 7.9M barrels

Commercial crude oil stockpiles in the United States decreased by 7.9 million barrels in the week ending July 9, the US Energy Information Administration reported on Wednesday. The inventory now stands at 437.6 million barrels, which is around 8% below the five-year average for this time of year.

Meanwhile, crude oil refinery inputs in the US averaged 16.1 million barrels per day, decreasing by 22,000 barrels per day when compared to the average registered the previous week. Last week, refineries operated at 91.8% of their operable capacity, with gasoline production decreasing last week for an average of 9.9 million barrels per day.

Finally, US crude oil imports averaged 6.2 million barrels per day, marking a week-on-week increase of 347,000 barrels. Total commercial petroleum inventories were up by 2.5 million barrels last week.

Breaking the News / OL