‎US crude oil inventories down 700,000 barrels

Oil tanks

US crude oil inventories decreased more than forecasts last week. Gasoline inventories also declined during the same period, data from the US Energy Information Administration (EIA) showed.

US crude oil inventories for the week ended July 14 decreased by 700,000 barrels from the previous week, compared to estimates of a decrease by 2.440 million barrels.

Gasoline stockpiles fell by 1.1 million barrels last week, while distillate stocks remained unchanged.

US Crude & Derivatives Inventories (mln barrels)

Item

Last Year

Last Week

Current

Weekly Change

Crude Oil  

426.6

458.1

457.4

(0.7)

Gasoline  

228.4

219.5

218.4

(1.1)

Distillates  

112.5

118.2

118.2

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