EIA reports a small rise in US crude oil 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.

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Commercial US crude oil inventories increased by 95,000 bbls to 429 million bbls in the week ending 21 August, according to data from the EIA.

Refineries operated at 97.4% of their operable capacity during the week.

Gasoline stocks decreased by 2.5 million bbls over the week to 206.8 million bbls, and distillate stocks moved 2.2 million bbls lower to 103.3 million bbls.

By Aparupa Mazumder

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