US crude oil stocks fell last week, but gasoline inventories rose, impacting crude futures negatively.

US crude oil stockpiles fell by 1.8 million barrels last week, dropping to 428.4 million barrels, according to the EIA. Meanwhile, gasoline inventories rose by 3.3 million barrels to 212.2 million barrels, and distillate stocks increased by 400,000 barrels to 114.7 million barrels. Crude imports decreased by 1.9 million barrels per day, while exports rose by 285,000 barrels per day. Refinery crude runs increased by 67,000 barrels per day, and refinery utilization rates rose to 90.5%. Crude futures fell slightly due to the increase in gasoline stocks.

November 27, 2024
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