US crude stocks increase as crude runs fall and imports surge
US crude oil inventories increased by 2.6M bbls w-o-w to total 456M bbls in the week ending 14 August, according to the US Energy Information Administration. US crude refinery throughputs slipped by 254K b/d from the prior week to average 16.8M b/d. However, this is up by over 350K b/d compared with the same week last year. US crude imports were up by 465K b/d w-o-w at over 8M b/d for only the second time this year. US gasoline stocks fell by 2.7M bbls w-o-w to 212.8M bbls, the lowest since November 2014. US distillate supplies increased by 594K bbls to 148M bbls, the highest since October 2011.