US: Unexpected drop in oil stocks

US crude inventories fell unexpectedly in the last week as the market expected to rise, while inventories of gasoline and other fuels also declined.

In particular, according to data released on Wednesday by the US Energy Information Administration (EIA), crude oil reserves fell by 2.6 million barrels and fell to 413.4 million.

Thus, according to the EIA, the volume of US oil reserves is now about 12% below the five-year average.

It is worth noting that analysts who participated in a survey of the Wall Street Journal predicted that inventories would increase instead of decrease, by 2.2 million barrels compared to the previous week.

At the same time, US crude production remained unchanged at 11.6 million barrels per day, according to the EIA.

Prices, however, did not appear to be particularly affected after the release of the data, with the US crude WTI in April moving at $ 106.9 a barrel, strengthened by 3.2%, far from its high of $ 112.5 per day. barrel.

Elsewhere in the report, gasoline inventories also fell by 468,000 barrels to 246 million barrels, less than estimates, however, which fell by 1.4 million barrels.

Finally, refined crude stockpiles, including heating oil and diesel fuel, fell 574,000 barrels to 119.1 million barrels and are now about 16% below the five-year average, according to the EIA.

Source: Capital

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