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EIA reports a weekly fall in U.S. crude supplies, while gasoline stocks stand nearly unchanged

eia-reports-a-weekly-fall-in-us.-crude-supplies,-while-gasoline-stocks-stand-nearly-unchanged

The Energy Information Administration on Wednesday reported that U.S. crude inventories fell by 3.3 million barrels for the week ended Aug. 19. On average, analysts expected a decline of 3.2 million barrels, according to a poll conducted by S&P Global Commodity Insights. The EIA also said gasoline stockpiles were “virtually unchanged” for the week, while distillate stocks declined by 700,000 barrels. The analyst survey called for an inventory declines of 2.5 million barrels for gasoline and 360,000 barrels for distillates. Crude stocks at the Cushing, Okla., Nymex delivery hub edged up by 400,000 barrels for the week, the EIA said. October West Texas Intermediate crude CLV22, +0.67% was down 34 cents, or 0.4%, at $93.40 a barrel on the New York Mercantile Exchange. It was at $94.28 before the supply data.

Source: Marketwatch

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