US crude stocks rebound
US crude oil inventories increased by 4.7M bbls w-o-w to total 455.4M bbls in the week ending 28 August, according to the US Energy Information Administration. This offset the majority of the previous week's decline and ensured that crude stocks ended August little changed from their end-July levels. US crude runs fell by 269K b/d from the prior week to 16.4M b/d, their lowest since June. US crude imports surged by 656K b/d w-o-w to 7.9M b/d and over the last four weeks have averaged 7.7M b/d, up 0.2% y-o-y.