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US gasoline stocks fall to 2015 low as distillate supplies rise to 3-year high

Oil

US gasoline inventories dropped by 1.25M bbls w-o-w to a nine-month low of 215.5M bbls in the week ending 7 August, according to the US Energy Information Administration. The drop comes despite US crude runs holding near to record levels at over 17.0M b/d. In contrast, US distillate fuel oil stocks were up 3M bbls from the previous week at 147.8M bbls, the highest since January 2012. US crude stocks fell by 1.7M bbls w-o-w to 114.9M bbls. US crude imports increased by 393K b/d from the prior week to 7.6M b/d.