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.

IMAGE: Getty Images

Commercial US crude oil inventories fell by 865,000 bbls to 409.8 million bbls in the week ending 30 October, according to data from the EIA.

Refineries operated at 94.5% of their operable capacity during the week, higher than the previous week’s 92.8%.

Gasoline stocks decreased by 222,000 bbls over the week to about 209 million bbls, and distillate stocks moved 3.6 million bbls lower to about 99.3 million bbls.

By Aparupa Mazumder

Please get in touch with comments or additional info to news@engine.online