ZCZC
BCN-34
US-ENERGY-OIL-EIA
U.S. oil inventories decrease further in week ending June 22: EIA
HOUSTON, June 28, 2018 (BSS/Xinhua) – U.S. crude oil inventories decreased
again in the week ending June 22, the U.S. Energy Information Administration
(EIA) said in a report on Wednesday.
According to the Weekly Petroleum Status Report, U.S. commercial crude oil
inventories, excluding those in the Strategic Petroleum Reserve, decreased by
9.9 million barrels during the week ending June 22.
In the previous week ending on June 15, EIA reported a draw of 5.9 million
barrels. For the same week, The American Petroleum Institute (API) on Tuesday
reported a draw of 9.2 million barrels.
U.S. crude oil refinery inputs averaged about 17.8 million barrels per day
during the week ending June 22, which was 115,000 barrels per day more than
the previous week’s average.
At 416.6 million barrels, U.S. crude oil inventories are about 4 percent
below the five-year average for this time of year.
Total motor gasoline inventories increased by 1.2 million barrels last
week and are about 6 percent above the five-year range. Finished gasoline
inventories decreased while blending components inventories increased last
week.
Distillate fuel inventories remained unchanged last week and are about 14
percent below the five-year average for this time of year.
Total products supplied over the last four-week period averaged 20.2
million barrels per day, up by 1.5 percent from the same period last year.
Over the past four weeks, motor gasoline product supplied averaged 9.5
million barrels per day, down by 0.1 percent from the same period last year.
Distillate fuel product supplied averaged 3.8 million barrels per day over
the past four weeks, down by 2.5 percent from the same period last year. Jet
fuel product supplied was down 3.7 percent compared with the same four-week
period last year.
Oil prices extended gains on Wednesday after official data showed a much-
bigger-than-expected decline in U.S. crude stockpiles.
The West Texas Intermediate (WTI) for August delivery jumped 2.23 U.S.
dollars to settle at 72.76 dollars a barrel on the New York Mercantile
Exchange, while Brent crude for August delivery added 1.31 dollars to 77.62
dollars a barrel on the London ICE Futures Exchange.
BSS/XINHUA/HR/1220