U.S. Crude Oil Stocks Fall Amid Decline in Imports

By Anthony Harrup

U.S. crude oil inventories fell last week amid a decline in imports and a pickup in exports, according to data released Thursday by the Energy Information Administration.

Commercial crude oil stocks excluding the Strategic Petroleum Reserve fell by 2.5 million barrels to 457.1 million barrels in the week ended June 14 and were about 4% below the five-year average for the time of year, the EIA said.

Analysts surveyed by The Wall Street Journal had predicted crude stockpiles would fall by 2.1 million barrels.

Stocks of gasoline and distillate fuels fell from the previous week as refineries reduced their capacity use.

 
Change in U.S. oil inventories for the week ended June 14: 
 
                   Crude       Gasoline      Distillates         Refinery Use 
EIA data:          -2.5          -2.3           -1.7                -1.5 
Forecast:          -2.1           0.1           -0.1                -0.1 
 

Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.

Write to Anthony Harrup at [e-mail]

(END) Dow Jones Newswires

06-20-24 1126ET