US commercial crude oil inventories fell by 3.4 million barrels from the prior week.
- At 409.9 million barrels, US crude oil inventories were nearly 14% less than the five-year average for this time of year.
- Total motor gasoline inventories rose by 0.8 million barrels the prior week and are nearly the same as the five-year average for this time of the year.
- US crude oil refinery inputs hovered around 15.9 million barrels per day last week, which was 35,000 barrels per day higher than the prior week’s average. Refineries were operating at 92.1% operable capacity last week.
- US crude oil imports averaged 6.3 million barrels per day last week, falling 227,000 barrels per day from the prior week.
In the last four weeks, crude oil imports hovered at nearly 6.4 million barrels per day, 11.9% higher than the same period last year.
CL! up +3.80%, USOIL up +2.00%