SunSirs: EIA: US Crude Oil Inventories Increased by 1.3 Million Barrels Last Week
January 11 2024 14:30:16 SunSirs (Selena)
According to foreign sources on January 10th, a report released by the US Energy Information Agency (EIA) on Wednesday showed an unexpected increase in commercial crude oil inventories in the US last week, with gasoline and distillate inventories growing higher than market expectations.
As of the week ending January 5th, US crude oil inventories increased by 1.3 million barrels to 432.4 million barrels, with analysts expecting a decrease of 700,000 barrels.
According to EIA data, as of the week ending January 5th, US gasoline inventories increased by 8 million barrels to 244.98 million barrels, with analysts expecting an increase of 2.5 million barrels.
During the week, distillate oil inventories, including diesel and heating oil, increased by 6.5 million barrels to 132.38 million barrels, with analysts expecting an increase of 2.4 million barrels.
As of the week ending January 5th, the inventory of Cushing crude oil in Oklahoma, the delivery location of NYMEX crude oil futures, decreased by 506,000 barrels.
The report shows that the crude oil processing volume of the refinery decreased by 161,000 barrels per day that week. The utilization rate of refinery capacity has decreased by 0.6 percentage points compared to the previous week, and the market had previously estimated a decrease of 0.8 percentage points.
EIA data shows that the net import of crude oil from the United States increased by 1.32 million barrels per day during the week.
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