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US Crude Stocks Fall To Lowest Since January (1)

Oil

US crude oil inventories decreased by 7.56M bbls w-o-w to a 6-month low of 495.35M bbls in the week ending 7 July, the US Energy Information Administration (EIA) said. Stocks at Cushing, Oklahoma fell by 1.95M bbls to 57.56M bbls, the lowest since November 2015. US crude refinery throughputs were up by 103K b/d from the prior week to 17.24M b/d, while US crude imports dropped by 132K b/d w-o-w to 7.61M b/d, a 4-month low.