EIA: US crude, gasoline inventories dropped last week

The Energy Information Agency (EIA) reported a drop of 1.9 million barrels in US crude inventories the week ending 4 March 2022 to 411.6 million barrels as the refinery utilisation rate increased.

US gasoline stocks fell 1.4 million barrels to 244.6 million barrels. The drop signals strong demand while export to Europe rose strongly. 

Refinery utilisation rates rose 1.6% last week.