Crude Inventory Declined 2.8M Barrels Last Week, Says EIA
U.S. crude oil refinery inputs averaged 16.7 million barrels per day during the week ending June 24, 2022 which was 403,000 barrels per day more than the previous week’s average. Refineries operated at 95.0% of their operable capacity last week. Gasoline production increased last week, averaging 9.5 million barrels per day. Distillate fuel production decreased last week, averaging 5.1 million barrels per day. U.S. crude oil imports averaged 6.0 million barrels per day last week, decreased by 0.2 million barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.3 million ... (full story)
WTI Extends Gains After 'Delayed' DoE Data Show Cushing Stocks Near 'Operational Low' Limits
After "systems issues" 'delayed' last week's inventory, supply, and demand data from the EIA, the admin will report this week's data as well as last week's combined following API reported a notable build the prior week and a surprise draw last week. API (last week) • Crude +5.607mm • Cushing -390k • Gasoline +1.216mm - first build since March • Distillates -1.656mm API (this week) • Crude -3.799mm • Cushing -650k • Gasoline +2.852mm • Distillates +2.613mm So over the last two weeks, API reports (net) a small crude build, notable Cushing draw, large gasoline build and small distillates build. Oil prices ... (full story)
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