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US Energy Information Administration: Crude stocks in the Strategic Petroleum Reserve are falling to their lowest level since 1987
The US Energy Information Administration announced today, Wednesday, June 8, that crude stocks in the US Strategic Petroleum Reserve fell last week to the lowest level since March 1987.
According to the data, US oil inventories rose by two million barrels last week, against expectations for a decline of 1.9 million barrels.
It also indicated a decline in crude stocks in the US Strategic Petroleum Reserve by 7.3 million barrels to 519.32 million barrels.
US gasoline stocks fell by 812,000 barrels last week, while it was expected to rise by 1.1 million barrels.
US refiners' consumption of crude rose last week to the highest level since January 2020.
US refinery operating rates rose last week to the highest level since December.
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