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US crude stocks continue to fall amid strong crude runs

Oil

US crude oil inventories fell by 4.9M bbls w-o-w to total 463M bbls in the week ending 19 June, according to the US Energy Information Administration. However, this is still up by 74.9M bbls compared with the same week in 2014. US crude runs rose by 250K b/d w-o-w and 860K b/d y-o-y to average 16.5M b/d. US East Coast crude runs increased by 63K b/d w-o-w to 1.22M b/d, the highest since September 2011. US crude imports fell by 302K b/d from the prior week to average 6.8M b/d.