US oil stocks fall amid rising gasoline
The U.S. Energy Information Administration announced that U.S. crude oil inventories decreased significantly last week, with a decline of 8.6 million barrels, bringing the total to 415.6 million barrels. At the same time, gasoline inventories rose by 3.5 million barrels to reach 208.3 million barrels, while inventories of refined products, such as diesel and heating oil, fell by 2.5 million barrels to 102.6 million barrels. The data also showed that crude oil imports decreased by 596,000 barrels per day during the week, while refinery crude runs increased by 135,000 barrels per day, with operating rates rising to 93.5%. This indicates a reduction in U.S. oil inventories alongside increased demand for petroleum products, which could impact global oil prices.
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