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US crude stocks fall

Oil

US crude oil inventories dropped by 1.9M bbls w-o-w to total 454M bbls in the week ending 18 September, according to the US Energy Information Administration. US crude imports fell marginally to 7.2M b/d and over the last four weeks have averaged over 7.4M b/d, down 2% y-o-y. US crude refinery throughputs decreased by 310K b/d from the prior week to 16.2M b/d. However, US refinery capacity utilisation rates were still around 91% and have not been below 90% since April 2015. Crude runs on the East Coast dipped by 42K b/d w-o-w to 1.04M b/d, the lowest since March and at 82.2% the region has the lowest utilisation rate out of any PADD area.