US crude stockpiles jump by 15.2M barrels - EIA

Wednesday, 08. April 2020 16:31

Crude oil stockpiles in the United States surged by 15.2 million barrels to 484.4 million barrels in the week ending April 3, the Energy Information Administration (EIA) said in its weekly report on Wednesday. Meanwhile, crude oil imports averaged 5.9 million barrels per day last week, slipping by 173,000 barrels per day from the previous week.

Gasoline production decreased on a weekly basis to an average of 5.8 million barrels per day, while distillate fuel production went up last week, averaging 5.0 million barrels per day. Crude oil refinery inputs averaged 13.6 million barrels per day last week, a drop of 1.3 million barrels per day compared to the previous seven-day period, as refineries operated at 75.6% of their capacity.

West Texas Intermediate (WTI) for May delivery soared 4.70% to go for $24.74 per barrel at 10:30 am ET. A minute later, Brent for settlements in June increased by 1.19%, selling for $32.23 per barrel.

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Breaking the News / GA