US commercial crude oil inventories fell by 4.6 million barrels from the prior week.
- At 413.3M barrels, the US crude stockpiles were nearly 8% below the five-year average for this period of the year. Total commercial petroleum inventories dropped by 4.5M barrels last week.
- Meanwhile, motor gasoline inventories rose by 8.0 million barrels last week and stand almost 3% below the five-year average.
- US crude oil refinery inputs hovered around 15.6M barrels per day during the week ending January 7, 293,000 barrels per day less than the prior week’s average.
- Gasoline production rose last week, hovering at nearly 8.6 million barrels per day. Distillate fuel production fell last week, averaging nearly 4.8M barrels per day.
- US crude oil imports averaged nearly 6.1M barrels per day last week, an increase of 185,000 barrels per day from the prior week.
Over the past four weeks, crude oil imports increased by 10.7% to average around 6.2 million barrels per day.
CL1! Up +1.44%,USOIL up +1.39%