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EIA: US crude inventories fell for the eighth straight weekEIA: US crude inventories fell for the eighth straight week |
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The latest data from the Energy Information Agency (EIA) showed another 7.9 million barrels drawdown in US crude inventories in the week to 9 July 2021 to 437.6 million barrels, marking the eighth consecutive declining week.
The continuous falling in crude inventories is overshadowed by the lagging gasoline demand, reflecting in the 1 million barrels buildup of gasoline stocks during the week.
Refinery utilization rates fell 0.4 percentage points to 91.8%.
