Energy Preview: US crude inventories down by 3.2 million barrels, shows EIA data

Energy Preview: US crude inventories down by 3.2 million barrels, shows EIA data US crude oil inventories fell by 3.169 million barrels in the week ending July 18, the Energy Information Administration (EIA) reported on Wednesday, broadly confirming the earlier API estimate but with a steeper decline. Gasoline stocks also fell by 1.738 million barrels, reflecting draw downs in some regions but not all. Distillate inventories surged by 2.931 million barrels?contrary to seasonal expectations. This moderate build suggests a front-loaded boost in U.S. refining activity to rebuild low stocks.

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