US Crude oil inventories gained by 1.1 million barrels to 417.1 million barrels in the week ending September 13, which is 2% lower from its 5-Year average.

Gasoline inventories increased by 0.8mb, which is 4% above the 5-Year average for this time of year and Distillate inventories increased by 0.4mb, which is 6% lower from its 5-Year average.

U.S. Refineries operated at 91.2% of their operable capacity.

US Crude oil production remained unchanged at a record high of 12.4mbpd.

Gasoline production decreased to 9.5mbpd last week, and distillate production too fell to 5.1mbpd during the same period.


By Tarun Satsangi for