9/9, 5:05 PM (Source: TeleTrader)
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EIA: US oil inventories down by 1.5M barrels

Commercial crude oil stockpiles in the United States decreased by 1.5 million barrels in the week ending September 3, the US Energy Information Administration reported on Thursday. The new figure now stands at 423.9 million barrels, which is around 6% below the five-year average for this time of year.

At the same time, crude oil refinery inputs in the US averaged at 14.3 million barrels per day, down by 1.6 million barrels per day week-on-week. Last week, refineries operated at 81.9% of their operable capacity, with gasoline production rising to an average of 10.1 million barrels per day.

Finally, US crude oil imports averaged 5.8 million barrels per day, which is 500,000 barrels less than compared to the average registered the previous week. Total commercial petroleum inventories decreased by 10.4 million barrels last week.

Breaking the News / LH