The change in crude stocks in the United States was -4.1 million barrels in the week ending July 23, as revealed on Wednesday the weekly report published by the US Energy Information Administration (EIA). The analysts’ estimate was for a decrease of 2.9 million barrels.
Market reaction
This report does not appear to be having a noticeable impact on crude prices. At time of writing, a barrel of West Texas Intermediate was up 0.22% on the day at $ 72.07.
Featured Comments
“Total automotive gasoline inventories decreased by 2.3 million barrels last week and are about 0% below the five-year average for this time of year.”
“US crude refinery inputs averaged 15.9 million barrels per day during the week ending July 23, 2021.”
“US crude imports averaged 6.5 million barrels per day last week, down 0.6 million barrels per day from the previous week.”
“Total products supplied in the last four-week period averaged 20.6 million barrels per day, 12.6% more than in the same period last year.”
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