The latest data from the US Energy Information Administration (EIA) shows notable changes in oil and gasoline inventories.
Gasoline inventories increased by 1.119 million barrels, significantly higher than the anticipated rise of 200,000 barrels. Conversely, distillate fuel oil inventories experienced a decrease of 1.284 million barrels, which is less than the expected drop of 2 million barrels.
In terms of crude oil, Cushing, Oklahoma's crude inventories saw an increase of 840,000 barrels. Additionally, refinery utilization rates fell by 3.3 percentage points, a sharper decline compared to the forecasted 0.7 percentage points.
Other significant metrics include a rise in crude oil imports by 172,000 barrels per day and an increase in daily crude oil production by 100,000 barrels per day.
