EIA reports a small draw in US crude oil stocks

Brent crude’s price has moved higher following the release of the US Energy Information Administration’s (EIA) official weekly oil inventory report.

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Commercial US crude oil inventories have declined by 600,000 bbls to touch 415 million bbls for the week ending 19 September, according to data from the EIA.

US refinery utilisation remained largely unchanged at 93% during the week.

Gasoline stocks have decreased by 1.1 million bbls over the week to 217 million bbls, and middle distillate stocks have moved 1.7 million bbls lower to around 123 million bbls.

By Aparupa Mazumder

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