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U.S. crude inventories fall more than expected in latest week – EIA

Thursday, 31 December 2020 | 01:00

Crude inventories fell by 6.1 million barrels in the week ended Dec. 25 to 493.5 million barrels, compared with analysts’ expectations in a Reuters poll for a 2.6 million-barrel drop.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 27,000 barrels in the last week, EIA said.

Refinery crude runs rose by 273,000 barrels per day in the last week, EIA said.

Refinery utilization rates rose by 1.4 percentage points, in the week.

U.S. gasoline stocks fell by 1.2 million barrels in the week to 236.56 million barrels, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.7 million-barrel rise.

Distillate stockpiles, which include diesel and heating oil, rose by 3.1 million barrels in the week to 152.03 million barrels, versus expectations for a 0.5 million-barrel rise, the EIA data showed.

Net U.S. crude imports fell last week by 764,000 barrels per day, EIA said.
Source: Reuters (Reporting By Jessica Resnick-Ault; Editing by Chizu Nomiyama)

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