EIA reports a draw in US crude oil stocks

Brent crude’s price has felt some upward pressure, following the release of the US Energy Information Administration’s (EIA) weekly oil inventory report.

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Commercial US crude oil inventories fell by 3.1 million bbls to 412.5 million bbls in the week ending 16 October, according to data from the EIA.

Refineries operated at 93.4% of their operable capacity during the week, largely unchanged from the previous week.

Gasoline stocks decreased by 3 million bbls over the week to about 205.3 million bbls, while distillate stocks moved 1.7 million bbls higher to about 104.3 million bbls.

By Shilpa Sharma

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