EIA: US Crude, Gasoline Inventories Drop Sharply

U.S. crude oil inventories fell more than anticipated last week, while gasoline and distillate stocks surprised with unexpected declines, the Energy Information Administration (EIA) said June 13.

Crude inventories fell 4.1 million barrels in the week to June 8, compared with analysts’ expectations for a decrease of 2.7 million barrels.

Refinery crude runs rose by 136,000 barrels per day (bbl/d), EIA data showed. Refinery utilization rates rose by 0.3 percentage points to 95.7% of total capacity.