Crude Oil Storage Report - May 17
Posted: Wed May 17, 2017 10:32 am
Oil prices rose after data showed U.S. crude stockpiles fell for the sixth week in a row.
The U.S. Energy Information Administration said in its weekly report that crude oil inventories fell by 1.8 million barrels in the week ended May 12, the sixth weekly decline in a row.
Market analysts' expected a crude-stock decline of around 2.3 million barrels, while the American Petroleum Institute late Tuesday reported a supply-gain of 882,000 barrels.
The report also showed that gasoline inventories declined by 413,000 barrels, compared to expectations for a fall of 731,000 barrels.
For distillate inventories including diesel, the EIA reported a decline of 1.9 million barrels. < This may have drawn the most attention.
Refinery crude runs rose by 363,000 barrels per day, EIA data showed. Refinery utilization rates rose by 1.9 percentage points. < Continued ramp up of gasoline production
Gasoline stocks fell by 413,000 barrels, compared with analysts' expectations in a Reuters poll for a 731,000 barrels drop.
U.S. crude imports rose last week by 577,000 barrels per day.
The U.S. Energy Information Administration said in its weekly report that crude oil inventories fell by 1.8 million barrels in the week ended May 12, the sixth weekly decline in a row.
Market analysts' expected a crude-stock decline of around 2.3 million barrels, while the American Petroleum Institute late Tuesday reported a supply-gain of 882,000 barrels.
The report also showed that gasoline inventories declined by 413,000 barrels, compared to expectations for a fall of 731,000 barrels.
For distillate inventories including diesel, the EIA reported a decline of 1.9 million barrels. < This may have drawn the most attention.
Refinery crude runs rose by 363,000 barrels per day, EIA data showed. Refinery utilization rates rose by 1.9 percentage points. < Continued ramp up of gasoline production
Gasoline stocks fell by 413,000 barrels, compared with analysts' expectations in a Reuters poll for a 731,000 barrels drop.
U.S. crude imports rose last week by 577,000 barrels per day.