EIA: US crude inventories up 2.2 million bbl

US crude oil inventories for the week ended June 7, excluding the Strategic Petroleum Reserve, increased 2.2 million bbl from the previous week, according to data from the US Energy Information Administration. Separately, the American Petroleum Institute said its own estimates showed US crude inventories increased 4.9 million bbl for the week.

US crude oil inventories for the week ended June 7, excluding the Strategic Petroleum Reserve, increased 2.2 million bbl from the previous week, according to data from the US Energy Information Administration.

Separately, the American Petroleum Institute said its own estimates showed US crude inventories increased 4.9 million bbl for the week.

At 485.5 million bbl, US crude oil inventories are 8% above the 5-year average for this time of year, the report indicated.

EIA said total motor gasoline inventories increased 800,000 bbl and are 2% above the 5-year range for this time of year. Finished gasoline inventories decreased while blending component inventories increased last week. Distillate fuel inventories decreased 1 million bbl and are about 4% below the 5-year average for this time of year.

Propane-propylene inventories increased 2.9 million bbl last week and are about 15% above the 5-year average for this time of year, EIA said.

US refinery inputs averaged 17.1 million b/d for the week ended June 7, about 126,000 b/d more than the previous week’s average. Refineries operated at 93.2% of capacity.

Gasoline production increased, averaging 10.3 million b/d. Distillate fuel production decreased, averaging 5.2 million b/d.

US crude oil imports averaged 7.6 million b/d, down 316,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 7.3 million b/d, 9% less than the same period last year. Total motor gasoline imports averaged 700,000 b/d. Distillate fuel imports averaged 123,000 b/d.

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