US: EIA Crude Oil Stocks decrease by 4.1 million barrels, WTI holds above $72

Crude Oil Stocks Change in the US was -4.1 million barrels in the week ending July 23, the weekly report published by the US Energy Information Administration (EIA) revealed on Wednesday. Analysts' estimate was for a decrease of 2.9 million barrels.

Market reaction

This report doesn't seem to be having a noticeable impact on crude oil prices. As of writing, the barrel of West Texas Intermediate was up 0.22% on the day at $72.07.

Additional takeaways

"Total motor gasoline inventories decreased by 2.3 million barrels last week and are about 0% below the five year average for this time of year."

"US crude oil refinery inputs averaged 15.9 million barrels per day during the week ending July 23, 2021."

"US crude oil imports averaged 6.5 million barrels per day last week, decreased by 0.6 million barrels per day from the previous week."

"Total products supplied over the last four-week period averaged 20.6 million barrels a day, up by 12.6% from the same period last year."