EIA reports another small rise in US crude stocks

Brent crude’s price felt little downward pressure after the weekly official US oil stocks figures from the US Energy Information Administration (EIA) were released yesterday.

IMAGE: Oil barrels painted as the flag of US. Getty Images

Commercial US crude oil inventories gained by 244,000 bbls to touch 443 million bbls for the week ending 18 April, according to data from the EIA.

US refinery utilisation gained by two percentage points to 88.1%.

Gasoline stocks fell by about 4.5 million bbls over the week to 230 million bbls, and middle distillate stocks moved about 2.4 million bbls lower to 107 million bbls.

By Aparupa Mazumder

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