US gasoline stocks fall to four-year low
Total US motor gasoline stocks fell by 600K bbls w-o-w and 18.8M bbls y-o-y to 211.4M bbls during the week ending 19 November, falling for the seventh consecutive week to the lowest level since November 2017, the US Energy Information Administration (EIA) reports. US commercial crude oil inventories rose by 1M bbls w-o-w to 434M bbls, however inventories still remain down by 54.7M bbls (or 11.2%) y-o-y. Crude oil exports tumbled by 1.02M b/d w-o-w to a six-week low of 2.61M b/d, whereas imports increased by 250K b/d w-o-w to 6.44M b/d. Refinery throughputs built by 240K b/d w-o-w to a seven-week high of 15.64M b/d, as refineries utilised 88.6% of their operable capacity.