Commodities Buzz: US Crude oil imports slip 2.4% on year in last four weeks says EIA

Energy Information Administration or EIA crude oil imports averaged 5.5 million barrels per day last week, decreased by 878 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.1 million barrels per day, 2.4% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 532 thousand barrels per day, and distillate fuel imports averaged 160 thousand barrels per day. The US commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 3.5 million barrels from the previous week. At 423.8 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 0.3 million barrels from last week and are slightly below the five-year average for this time of year. Both finished gasoline and blending components inventories decreased last week. Distillate fuel inventories decreased by 4.5 million barrels last week and are about 7% below the five-year average for this time of year.

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