(EIA) The US stockpiles of crude oil was at 424.2 million barrels in the week to May 6, an increase of 8.5 million barrels from the previous week.
The increase in inventories took the levels 13% below the five-year average at this time of the year. Total motor gasoline inventories and distillate fuel inventories were down by 3.6 million barrels and 0.9 million barrels, respectively.
The rise in inventories happened amid a 62,000 barrels per day decline in crude oil imports, which hit an average of 6.3 million bpd. The imports averaged 6.1 million bpd over the last four weeks, up 6.2% from the prior year.
The total crude oil refinery inputs rose by 230,000 bpd to an average of 15.7 million bpd, with refineries at 90.0% capacity.
Overall, the total products supplied in the last four weeks were at an average of 19.4 million bpd, an increase of 1.6% from the prior year.
CL1! is up +4.86%.
