EIA: US commercial crude inventories saw another gain; gasoline stocks jumped
The report showed that US refineries processed 17.1 million barrels of crude per day during the week – the highest since December 2019 with utilization rates rising by 1.1% to 95.4% of the total capacity.
The latest weekly report from the Energy Information Administration (EIA) showed another 1.2 million barrels increased in the US commercial crude inventories in the week ending 31 May 2024 to 455.9 million barrels.
Higher crude imports and steady local production were attributed to the gain.
Meanwhile, total motor gasoline inventories also jumped by another 2.1 million barrels compared to the previous week as a result of higher operating rates at refineries as the summer driving season kickstarted.
The report showed that US refineries processed 17.1 million barrels of crude per day during the week – the highest since December 2019 with utilization rates rising by 1.1% to 95.4% of the total capacity.
Meanwhile, propane/propylene inventories increased by 2.5 million barrels and are 14% above the five-year average for this time of year.