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EIA: US crude inventory unexpectedly build up as refineries cuts ratesEIA: US crude inventory unexpectedly build up as refineries cuts rates |
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The Energy Information Agency reported a build-up of 1.3 million barrels in the US commercial crude inventories in the week ending 29 April 2022, to 415.7 million barrels as refineries cut operating rates.
The report said refineries utilisation rates fell 1.9 percentage points to 88.4% during the week.
The US continues to release stocks from its strategic reserves last week, putting 3.1 million barrels on the market to cool off the heating energy complex as a result of the Russia-Ukraine war.
