EIA Storage Report - July 25
Posted: Wed Jul 25, 2018 3:11 pm
This should support higher oil prices.
Inventories of U.S. crude fell by 6.147 million barrels for the week ended July 20, much more than expectations for a draw of 2.600 million barrels, according to data from the Energy Information Administration (EIA).
Gasoline inventories fell by 2.328 million barrels, topping expectations for a draw of 0.713 million barrels, while supplies of distillate – the class of fuels that includes diesel and heating oil – fell by 0.101 million barrels, against expectations for a build of 0.207 million barrels.
The draw in products came despite refinery activity that fell to 93.8% of their capacity last week from 94.3% a week earlier, with inputs averaging about 17.3 million barrels per day during the week ending July 20.
Inventories of U.S. crude fell by 6.147 million barrels for the week ended July 20, much more than expectations for a draw of 2.600 million barrels, according to data from the Energy Information Administration (EIA).
Gasoline inventories fell by 2.328 million barrels, topping expectations for a draw of 0.713 million barrels, while supplies of distillate – the class of fuels that includes diesel and heating oil – fell by 0.101 million barrels, against expectations for a build of 0.207 million barrels.
The draw in products came despite refinery activity that fell to 93.8% of their capacity last week from 94.3% a week earlier, with inputs averaging about 17.3 million barrels per day during the week ending July 20.