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Home›Tax Arbitrage›U.S. Crude Stocks Jump Last Week – EIA

U.S. Crude Stocks Jump Last Week – EIA

By Marcella Harper
May 11, 2022
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May 11 (Reuters) – U.S. crude inventories rose while gasoline and distillate inventories fell last week, the Energy Information Administration said Wednesday.

Crude inventories USOILC=ICE rose 8.5 million barrels in the week to May 6 to 424.2 million barrels, compared with analysts’ expectations in a Reuters poll for a decline of 0.5 million barrels.

Crude inventories at Cushing, Oklahoma delivery hub USOICC=ICE fell 587,000 barrels last week, the EIA said.

Refinery Crude Cycles USOICR=ICE rose 230,000 barrels per day last week, the EIA said.

Refinery utilization rate USOIRU=ECI rose 1.6 percentage points over the week.

U.S. Gasoline Stocks USOILG=ICE fell 3.6 million barrels during the week to 225 million barrels, the EIA said, compared with analysts’ expectations in a Reuters poll for a drop of 1.6 million barrels.

Distillate stocks USOILD=ECIwhich includes diesel and fuel oil, fell 913,000 barrels during the week to 104 million barrels, versus an expected 1.3 million barrel decline, according to EIA data.

Net imports of U.S. crude USOICI=ICE rose last week by 632,000 barrels per day, the EIA said.

(Reporting by David Gaffen)

(([email protected]; +1-646-223-6064; Reuters Messaging: [email protected]))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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