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US Crude And Gasoline Stocks Fall

Oil

US crude oil inventories fell by 2.45M bbls w-o-w to 509.10M bbls in the week ending 16 June, according to the US Energy Information Administration (EIA). US gasoline stocks also decreased w-o-w, with inventories down by 578K bbls. However, US distillate stockpiles grew by 1.08M bbls from the prior week to 152.50M bbls, the highest since March. US crude refinery throughputs were down by 104K b/d w-o-w (but up by 647K b/d y-o-y), while US crude imports fell by 149K b/d w-o-w to 7.88M b/d.