EIA: US crude inventories edged up

The Energy Information Agency on Wednesday, 21 April 2021 released data that show an unexpected 594,000 barrels buildup in crude inventories in the US by the week ending 16 April 2021. 

Meanwhile, refinery utilization rates remain unchanged from the previous week at 85% - the highest level since March 2020. 

Although crude inventories increased, distillate stockpiles including diesel and heating oil dropped more than expected of 1.1 million barrels.

Net US crude import last week fell 416,000 barrels per day.