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US crude stocks decline despite rise in imports and fall in refinery runs

Oil

US crude stocks slipped 2.7M bbls w-o-w to total 467.9M bbls in the week ending 12 June 2015, according to the US Energy Information Administration. US crude oil imports rose by 444K b/d w-o-w to average 7.1M b/d, however over the last four weeks crude imports have been 5.3% below the same period last year. US refinery crude inputs dropped 294K b/d from the prior week to average 16.3M b/d but this was up by 885K b/d y-o-y.