Commercial crude oil inventories in the US decreased by 4.756 million barrels in the week ending February 5.
- At 410.4 million barrels, the US crude oil inventories were nearly 11% below the five-year average for the time of this year.
- Total motor gasoline inventories dropped by 1.6 million barrels last week and are nearly 3% below the five-year average for this time of year. Total commercial petroleum inventories fell by 8.1 billion barrels last week.
- Distillate stocks reported a smaller than expected drop of 929,000 barrels against a forecast for a 1.7 million barrels build.
- Gasoline stocks also fell unexpectedly by 1.644 million against an estimated market increase of 1.623 million.
US crude oil imports averaged 6.4 million barrels per day last week, dropping by 0.7 million barrels per day from the prior week.
CL! up +0.85%, USOIL up +0.46%