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US Crude Runs Drop To 2-Month Low, But Product Inventories Rise To Fresh Highs

Oil

US crude refinery throughputs declined by 100K b/d w-o-w to a 2-month low of 15.9M b/d, US EIA data shows. However, US gasoline stocks rose by 3.9M bbls from the prior week to 257.1M bbls, the highest weekly total since February 2016. This included a 1.9M bbls rise in East Coast gasoline supplies to a record of 73.5M bbls. While distillate inventories rose by 1.6M bbls to 170.7M bbls, the highest weekly total since October 2010.