EIA: US crude inventories increase, gasoline continues to decline

According to the latest data from the Energy Information Agency (EIA), the commercial crude inventories in the US rose 1 million barrels in the week ending 19 November 2021 to 434 million barrels. 

Gasoline stocks fell by another 603,000 barrels during the same week on the back of the strong holiday demand season. Gasoline stocks are at the lowest levels since November 2017 and industry experts expect a further decline in the coming week.  

Refinery utilisation rates increased 0.7% to 88.6%.