EIA reports a small increase in US crude stocks

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

IMAGE: Crude oil storage tanks. Getty Images

Commercial US crude oil inventories have increased by 400,000 bbls to around 425 million bbls for the week ending 19 December, according to data from the EIA.

US refinery utilisation has remained largely unchanged at 94.6% during the week.

Gasoline stocks have increased by 2.9 million bbls over the week, to around 228 million bbls, and distillate stocks have moved 200,000 bbls higher to 119 million bbls.

By Aparupa Mazumder

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