US oil inventories drop 6.1 mln barrels last week

23/08/2023 Argaam
Oil tanks

Oil tanks

US crude oil inventories declined in the week ended Aug. 18, while gasoline and distillate stocks rose during the same period.

 

Crude oil fell 6.1 million barrels last week, to reach 433.5 million barrels, thus extending the downturn to the second successive week, data from the US Energy Information Administration (EIA) showed.

 

Meanwhile, US gasoline inventories rose by 1.5 million barrels to 217.6 million barrels during the same week. Distillate stocks also increased by 900,000 barrels to 116.7 million barrels.

 

US Crude & Derivatives Inventories (mln barrels)

Type

Last Year

Last Week

Current

Weekly Change

Crude oil

421.7

439.7

433.5

(6.1)

Gasoline

215.6

216.2

217.6

+1.5

Distillates

111.6

115.7

116.7

+ 0.9

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