USA: EIA Crude Oil Stocks Changed at -7.5 Million Level

USA: EIA Crude Oil Stocks Changed at -7.5 Million Level

• EIA reported greater traction than expected in US crude oil stocks. • WTI was over $ 40.50 following the EIA report. As the weekly report released by the U.S. Energy Information Administration (EIA) announced on Wednesday, the Crude Oil Stock Exchange in the US was -7.5 million barrels a week ending July 10. This is higher than the market expectation for a 2.1 million barrel drop.

Market

Crude oil prices rose slightly with these data, and West Texas Intermediate (WTI) barrel increased by 0.53% on the last day to $ 40.65. "US crude oil imports were an average of 5.6 million barrels last week, down 1.8 million barrels compared to the previous week." "The total product supplied in the last four weeks has reached an average of 18.1 million barrels a day, down 13.1% compared to the same period last year." "Over the past four weeks, the motorized gasoline product delivered an average of 8.6 million barrels, down 8.8% over the same period last year." "The distilled fuel product supplied decreased by 6.4% compared to the same period of last year, an average of 3.5 million barrels more than a day in the last four weeks"