US crude stocks drop after 3 weeks

07:19 PM (Mecca time) Argaam
Oil tanks

Oil tanks


US crude oil inventories fell for the first time in three weeks in the week ending Jan. 23, while gasoline stocks inched higher.

 

US Crude & Derivatives Inventories (mln barrels)

Item

Last Year

Last Week

Current

Weekly Change

Crude Oil

415.1

426.0

423.8

(2.3)

Gasoline

248.9

257.0

257.2

+0.2

Distillates

124.0

132.6

132.9

+0.3

 

The data point to rising demand for oil and its products in the world’s largest economy, amid a winter storm in the US that has fueled concerns over tightening domestic supplies.

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