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U.S. crude stocks rise as distillate inventories fall below average

The EIA data showed crude oil commercial stockpiles at 426.4 million barrels, while distillate inventories were 12% below the five-year average for this time of year.

Reported · Written up by our desk · Energy

U.S. crude oil inventories rose in the latest weekly data from the U.S. Energy Information Administration, with commercial stockpiles increasing by 3.0 million barrels for the week ending September 18.

That increase lifted total commercial stockpiles to 426.4 million barrels, placing them 2.0% above the five-year average for this time of year, according to the EIA.

The EIA report also pointed to weaker balances in refined products, with distillate inventories falling by 400,000 barrels and sitting 12.0% below the five-year average. For total motor gasoline, inventories decreased by 1.7 million barrels, after rising the prior week by 800,000 barrels, the EIA said.

OilPrice noted the release followed an American Petroleum Institute update the day earlier, which reported crude oil inventories had gained 1.786 million barrels. In early New York trading, Brent futures were up to about $101.40 per barrel and WTI was around $92.00 per barrel.

Latest closeWTI crude $91.79 ▼3.0%|Brent $97.67 ▼1.6%|Gasoline (RBOB) $3.338 ▼4.3%

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