EIA: US commercial crude stocks rose less than expected as refineries ramp up operating rates

The latest data from the Energy Information Administration (EIA) showed the commercial crude inventories in the US built up just 533,000 barrels in the week ending 20 January 2023 – less than the 1 million barrels forecasted as refineries in the country continued to ramp up operating rates after the winter storm.

Data showed that refineries operated at 86.1% of their operable capacity last week, up 0.8% from the prior week.

Gasoline inventories – an indicator of the demand, however, rose 1.8 million barrels during the week to 232 million barrels.

Distillate stockpiles were down 0.5 million barrels.