USA: further decline in crude oil inventories


(CercleFinance.com) – US stocks of crude oil and distillates fell last week, the US Energy Information Agency (EIA) announced on Wednesday.

Crude reserves thus fell by 3.3 million barrels to 421.7 million during the week of August 19, while gasoline inventories remained virtually unchanged.

Reserves of distilled products, which include heating oil, fell by 700,000 barrels.

At 93.8%, the refinery capacity utilization rate increased by 0.3 points.

In the energy market, oil prices reacted by holding their gains, with West Texas Intermediate (WTI) futures currently gaining 0.3% above $94.

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