US Crude Stocks Fall For First Time Since December

Oil

US crude oil inventories declined by 237K bbls w-o-w to 528.2M bbls in the week ending 10 March, according to the US Energy Information Administration (EIA). (This is the first decline since the end of 2016, with stocks having risen by almost 50M bbls during this period). US crude oil refinery inputs edged down by 20K b/d from the prior week to 15.5M b/d, while US crude imports dropped by 888K b/d w-o-w to 9.6M b/d.