US crude stocks record run ends

Oil

US crude oil stocks fell for the first time in seventeen weeks, decreasing by 3.9M bbls w-o-w to total 487.03M bbls in the week ending 1 May, according to the US Energy Information Administration. Stocks decreased across all PADD areas, with the Midwest witnessing the largest weekly decline at 1.61M bbls. US crude oil imports fell by 905K b/d from the previous week to average a near twelve-month low of 6.54M b/d. US crude oil refinery throughputs increased by 247K b/d w-o-w to average an almost year-to-date high of 16.35M b/d.