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Oil Stockpile Dropped 7.35 Million Barrels Last Week: EIA

CommoditiesJun 16, 2021 10:33AM ET

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Oil Stockpile Dropped 7.35 Million Barrels Last Week: EIA

© Reuters.

By Liz Moyer

Investing.com -- U.S. oil stockpiles dropped by more than expected in the latest week, the Energy Information Administration said on Wednesday.

Crude oil inventories fell 7.355 million barrels last week, compared with analysts' expectations for a draw of 3.29 million barrels.

Distillate stockpiles, which include diesel and heating oil, fell 1.023 million barrels in the week against expectations for a build of 186,000 barrels, the EIA data showed.

Refinery crude runs were 412,000 barrels. The weekly refinery utilization rate rose 1.3% , according to the EIA report.

Gasoline inventories rose 1.954 million barrels last week the EIA said, compared with expectations for a draw of 614,000 barrels.

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Comments (3)

Guanyin Chan Jun 16, 2021 11:28AM ET

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Oil is going to 200 and that won't be good for economy

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JM Langley Jun 16, 2021 11:28AM ET

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It is good for the US government for buying and selling the oil reserves

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Thuong Nguyen Jun 16, 2021 10:38AM ET

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price should be 85$ now, its lately to increase

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Me comment Jun 16, 2021 10:37AM ET

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oil down but again the net amount of oil increased with distillates only down slightly and gasoline inventories increasing, shows travel demand is still not there yet.

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