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US Oil Inventories Sag as Hormuz Turmoil Rages On
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Oilprice.com
The EIA’s data release follows API’s figures that were released a day earlier, which reported that crude oil inventories had fallen by 3.296 million barrels in the period.
For total motor gasoline, the EIA reported that inventories increased slightly, compared to the week prior’s 800,000-barrel build.
The most recent figures showed that average daily gasoline production increased to 9.9 million barrels.
For middle distillates, inventories increased by 1.1 million barrels with production increasing to an average of 5.4 million barrels daily.
Total products supplied—a proxy for U.S. oil demand—averaged 20.3 million barrels per day over the last four weeks, down 2.3% compared to the same period last year.