EIA: US crude, gasoline inventories fell as refiners ramped up operations

The latest data from the Energy Information Agency (EIA) showed a drop of 2.5 million barrels in the US commercial crude inventory in the week ending 18 March 2022, to 413.4 million barrels.

Refineries are ramping up operating rates ahead of the summer driving season, processing an average of 15.9 million barrels per day, at 91.1% utilization rates, up from 90.4% in the previous week. 

Gasoline inventories fell 2.9 million barrels last week.