Commodities Buzz: US Crude oil imports up 4.4% on year in last four weeks says EIA

Energy Information Administration or EIA stated yesterday that the US crude oil imports averaged 6.7 million barrels per day last week, increased by 508 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.6 million barrels per day, 4.4% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 582 thousand barrels per day, and distillate fuel imports averaged 96 thousand barrels per day.

The US commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 2.4 million barrels from the previous week. At 420.7 million barrels, US crude oil inventories are about 4% below the five-year average for this time of year. Total motor gasoline inventories decreased by 3.8 million barrels from last week and are about 2% below the five-year average for this time of year. Both finished gasoline inventories and blending components inventories decreased last week. Distillate fuel inventories increased by 1.7 million barrels last week and are about 13% below the five-year average for this time of year.

Powered by Commodity Insights