EIA: US crude inventories rose for the first time since May
EIA: US crude inventories rose for the first time since May
US crude stockpile rose 2.1 million barrels in the week ending 16 July 2021, ending the streak of eight weeks of declines due to higher import arrivals, the Energy Information Agency said on Wednesday.
Data showed that US crude imports surged to 7.1 million barrels per day last week – the highest levels since July 2020.
US gasoline stocks, which used to indicate the fuel demand, fell 121,000 barrels – much lower than the industry participants' forecasts.
The refinery utilization rate declined by another 0.4 percentage point to 91.4%.