Commodities Buzz: EIA Reports Falls In US Crude Stockpiles; Gasoline Inventories Up

21 Jul 2022 , 10:05 AM

EIA Reports Falls In US Crude Stockpiles; Gasoline Inventories Up US crude stocks and distillate inventories fell while gasoline inventories rose, the Energy Information Administration said on Wednesday. The U.S. Energy Information Administration showed that crude oil inventories decreased by 446,000 barrels over the week to July 15. Last week, the EIA report showed a build in crude oil inventories of 3.3 million barrels?a rare occurrence in the middle of peak driving season in the United States, but helped along by the amount of crude oil released from the nations Strategic Petroleum Reserve. For gasoline, the EIA reported an inventory increase of 3.5 million barrels, adding to the previous build of 5.8 million barrels in the week prior. Gasoline production in the week to July 15 averaged 9.4 million bpd, up substantially from the previous weeks 8.9 million bpd. Powered by Commodity Insights