EIA reports a small rise in US crude stocks

Brent crude’s price felt some downward pressure after the weekly official US oil stocks figures from the US Energy Information Administration (EIA) were released yesterday.

IMAGE: Crude oil barrels. Getty Images

Commercial US crude oil inventories gained by 515,000 bbls to touch 443 million bbls for the week ending 11 April, according to data from the EIA.

US refinery utilisation remained largely unchanged at 86.3%.

Gasoline stocks fell by about 1.96 million bbls over the week to 234 million bbls, and middle distillate stocks moved about 1.9 million bbls lower to 109 million bbls.

By Aparupa Mazumder

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