EIA: US crude inventories declined last week due to Hurricane Ida
EIA: US crude inventories declined last week due to Hurricane Ida
The latest report from the Energy Information Agency showed reductions in both crude and gasoline inventories in the US in the week to 3 September 2021 due to Hurricane Ida that affected productions.
Total crude stocks fell 1.5 million barrels, much smaller than expected, to 423.9 million barrels while gasoline stocks fell 7.2 million barrels.
Refineries utilization rates dipped 9.4 percentage points from the previous week to 81.9% due to the shutdown at refineries along the US Gulf.
Net US crude imports also fell 500,000 barrels per day from the previous week.