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[size=30]Sharp drop in US oil inventories[/size]
05/10/2017 09:41 | Number of readings:
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[rtl]Trend Press / Agencies[/rtl]
[rtl]The US Energy Information Administration (EIA) reported a sharp fall in crude oil stocks in the US last week, while gasoline stocks rose and distillate stocks fell, pushing up oil prices.[/rtl]
[rtl]Crude stocks fell 6 million barrels last week, against analysts' forecasts for a 756,000 barrel drop.[/rtl]
[rtl]Crude refinery consumption fell 145,000 bpd, with operating rates down 0.5 percentage points, according to management data.[/rtl]
[rtl]Gasoline inventories rose 1.6 million barrels, while analysts polled by Reuters had expected a 1.1 million barrel increase.[/rtl]
[rtl]The Energy Information Administration said distillate stocks, including diesel and heating oil, fell 2.6 million barrels against a forecast of 1.8 million barrels.[/rtl]
[rtl]US crude oil imports fell 706,000 barrels to 5.23 million bpd last week.[/rtl]
[rtl]Oil prices rebounded from losses after the publication of the Energy Information Administration report and headed up[/rtl]
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