USA: gasoline stocks drop, crude oil rises – 05/11/2022 at 16:42

(CercleFinance.com) – US crude oil inventories rose again last week, according to data released Wednesday by the US Energy Information Agency (EIA).

Crude inventories rose 8.5 million barrels in the week of May 6, to 424.2 million barrels.

Gasoline stocks, for their part, continued to decline, with a decline of 3.6 million barrels last week, while reserves of distilled products, which include heating oil in particular, fell by 900,000 barrels.

The refinery capacity utilization rate rose to 90% from 88.4% the previous week.

Crude prices increased their lead on the announcement of these figures, with US light crude currently gaining 4.9% to 104.7 dollars.

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