By: Inspenet, Jan 12, 2023
US crude and gasoline stocks rose while distillate stocks fell, the Energy Information Administration (EIA) said this week.
Crude inventories rose by 19 million barrels in the week ending January 6 to 439.6 million barrels, compared with analyst expectations in a Reuters poll for a drop of 2.2 million barrels.
According to the EIA, crude oil inventories at the Cushing, Oklahoma delivery center have increased by 2.5 million barrels in the past week. While, refining rose by 831 thousand barrels per day. For its part, the utilization rate of refineries advanced 4.5 percentage points.
Gasoline inventories rose by 4.1 million barrels for the week to 226.8 million barrels, the EIA said, compared with analyst expectations in a Reuters poll for a build of 1.2 million barrels.
Distillate stocks, which include diesel and heating oil, fell 1.1 million barrels on the week to 117.7 million barrels, according to the EIA, versus expectations for a 0.5 million-barrel drop. Net US crude imports grew by 2.71 million barrels per day, the EIA said.
Photo: ShutterStock
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