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U.S. Oil Inventories Rose by 3.626 Million Barrels: EIA

Published 04-08-2021, 08:14 pm
© Reuters.

By Noreen Burke

Investing.com -- U.S. crude inventories unexpectedly rose in the latest week the Energy Information Administration said on Wednesday.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) rose by 3.626 million barrels in the week to July 20 to 439.2 million barrels, compared with analysts' expectations for a 3.102 million-barrel drawdown.

Distillate stockpiles, which include diesel and heating oil, rose 0.833 million barrels in the week against expectations for a 0.543 million barrel drop, the EIA data showed.

Refinery crude runs rose 0.045 million barrels per day in the last week, EIA said. The weekly refinery utilization rate rose 0.2%, according to the report.

U.S. gasoline inventories fell by 5.292 million barrels last week, the EIA said, compared with expectations for a 1.780 million-barrel draw.

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