EIA: US crude inventories fell 2.5 million barrels on lower net imports
The data showed net crude import fell sharply during the reporting week, to about 2.6 million barrels per day compared to 5.1 million barrels per day in the previous week.
The latest weekly report from the Energy Information Administration (EIA) showed that commercial crude stockpiles in the US fell by 2.5 million barrels in the week ending 14 June on reduced net import.
At 457.1 million barrels, the US inventories are about 4% below the five-year average at this time of year.
The data showed net crude import fell sharply during the reporting week, to about 2.6 million barrels per day compared to 5.1 million barrels per day in the previous week.
Meanwhile, refineries in the country trimmed utilization rates by 1.5 percentage points to about 93.5%.
Total motor gasoline inventory fell by 2.3 million barrels while propane/propylene stocks gained 1.6 million barrels.