US: oil stocks down by 8.263 million to 418.222 million; estimates at -3.5 million

Last week, oil stocks in the United States fell much more than expected. A decline of 8.263 million barrels to 418.222 million barrels was recorded, according to data released by the Department of Energy, with expectations of a fall of 3.5 million barrels. Petrol stocks fell by 0.906 million barrels to 214.235 million barrels, against expectations of a fall of 1.5 million barrels. Distillate stocks, which include heating oil, rose by 0.951 million barrels to 103.052 million barrels, against estimates of a fall of 0.9 million barrels. Refinery capacity utilisation rose from 95.3% to 96.7%, whilst expectations stood at 95.4%.

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