Arab Today, arab today us crude stocks lower
Last Updated : GMT 21:50:13
Arab Today, arab today
Arab Today, arab today

US crude stocks lower

Arab Today, arab today

Arab Today, arab today US crude stocks lower

London - QNA

US crude stocks fell more than expected last week led by a sharp drop in West Coast crude inventories as imports dipped, the American Petroleum Institute has said . Crude inventories fell by 6 million barrels in the week to Aug. 17, compared with analysts’ expectations for a 400,000-barrel drawdown. Weekly imports fell by 1.2 million barrels-per-day (bpd) to 8.17 million bpd. Distillate stocks also logged a surprise drawdown, falling by 1 million barrels in the latest week. Analysts had expected a 1 million-barrel build. Gasoline stocks rose by 869,000 barrels, contrary to forecasts for a 700,000-barrel draw. The fall in crude inventories came despite a drop in U.S. refinery run rates, which fell by 0.5 percentage point to 92.1 percent last week. 

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