Markets

Crude Inventory Gained but Less than Expected

According to the DOE/EIA weekly report, total crude oil and petroleum products stocks rose +4.17 mmb to 1059.64 mmb in the week ended February 3. Crude stockpile increased +0.30 mmb to 339.25 mmb as stocks gained in 4 out of 5 PADDs. Cushing stock added +0.37 mmb to 30.49 mmb. Utilization rate increased +1.0% to 82.8%.

Gasoline inventory gained +1.63 mmb to 231.78 mmb as demand increased +0.26% to 8.04M bpd. Production climbed +0.75% to 8.63M bpd while imports slipped -31.58% to 0.72M bpd. Distillate inventory soared +1.17 mmb to 146.58 mmb as demand dropped -8.03% to 3.44M bpd. Imports declined -42.19% to 0.11M bpd while production dropped -0.71% to 4.49M bpd during the week.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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