EIA reports decrease 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 decreased by around 3.2 million bbls to 424.1 million bbls in the week ending 2 October, according to data from the EIA.

Refineries operated at 92.7% of their operable capacity during the week, largely matching last week’s 92.5%.

Gasoline stocks increased by 382,000 bbls over the week to about 204.7 million bbls, while distillate stocks moved 42,000 bbls lower to about 105.1 million bbls.

By Aparupa Mazumder

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