EIA reports a decline in US crude oil stocks

Brent crude’s price has felt some upward pressure, following the release of the US Energy Information Administration’s (EIA) weekly oil inventory report.

IMAGE: Getty Images

Commercial US crude oil inventories fell by 1.9 million bbls to 410.6 million bbls in the week ending 23 October, according to data from the EIA.

Refineries operated at 92.8% of their operable capacity during the week, lower than the previous week’s 93.4%.

Gasoline stocks increased by 3.9 million bbls over the week to about 209.2 million bbls, while distillate stocks moved 1.5 million bbls lower to about 102.8 million bbls.

By Aparupa Mazumder

Please get in touch with comments or additional info to news@engine.online