NYC / Stocks in the USA: Commercial reserves of crude oil recorded an unexpected sharp fall last week in the United States, according to figures published on Wednesday by the American Energy Information Agency (EIA), under the effect in particular of a decrease in imports.
During the week ended May 19, commercial inventories fell by 12.5 million barrels, while analysts saw them increase by two million barrels, according to a consensus established by the Bloomberg agency.
This is the biggest weekly drop since November.
The surprise figure gave a boost to the price of black gold, already on the rise. Around 2:55 p.m. GMT, the price of a barrel of West Texas Intermediate (WTI WTI West Texas Intermediate (WTI), also known as Texas Light Sweet, is a variation of crude oil that serves as a standard in pricing crude oil and as a commodity for oil futures contracts with the Nymex (New York Mercantile Exchange). ), the stock exchange specializing in energy.) American for delivery in July won 1,93%To 74,32 dollars.
This contraction is all the more remarkable given that, at the same time, American strategic reserves fell by 1.6 million barrels.
The decline in commercial stocks is partly explained by the slowdown in imports (-15%), which were 7 million barrels lower than in the previous period, while at the same time exports accelerated (+5%).
As for the utilization rate of American refineries, it experienced a slight downturn, 91,7%against 92,0% the previous week.
U.S. crude production rose moderately, 12.3 million barrels per daycompared to 12.2 the previous week.
Demand has rebounded (+6%). A 20.7 million barrels per dayshipments of refined products reached their highest level since the end of December.
All major categories increased, notably gasoline (+6%), but also distilled products (+14%), including diesel, at its highest for almost two months.
On average over four weeks, an indicator closely followed by operators, deliveries of petrol, kerosene and distilled products are higher than those of last year at the same time.
(c) AFP
Commenter USA: unexpected drop in crude oil stocks, imports are falling
Community barrel price
2023-05-24 16:36:56
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