US inventories of crude, gasoline and distillates fell more than expected within a week

The US Energy Information Administration reported on Wednesday that inventories of crude oil, gasoline and distillates in the United States fell more than expected last week.

She said that crude inventories fell by 3.7 million barrels to 436.5 million in the week ending July 19, compared to analysts’ expectations in a Reuters poll for a decline of about 1.6 million.

The administration said that crude inventories at the delivery center in Cushing, Oklahoma, fell by 1.7 million barrels last week.

Crude consumption in refineries decreased by 521 thousand barrels per day in the week ending July 19.

Refinery operating rates fell by 2.1%.

The administration said that gasoline stocks in the United States fell by 5.6 million barrels last week to 227.4 million barrels, compared to the expectations of analysts polled by Reuters for a decline of 400,000 barrels.

Administration data showed that distillate stocks, which include diesel and heating oil, fell by 2.8 million barrels to 125.3 million barrels, compared to expectations for an increase of 250,000 barrels.

The administration said that net crude imports to the United States fell by 388 thousand barrels per day last week.