INSUBCONTINENT EXCLUSIVE:
The US Energy Information Administration reported crude stocks fell by 2.03 million barrels in the week ending May 2
Supplies now stand at 438.37 million barrels, about 7 percent below the five-year seasonal average
Analysts had forecast a 1.3 million-barrel draw.This larger draw followed a 2.7 million-barrel build a week earlier
Gasoline inventories rose by 188 thousand barrels to 225.78 million barrels last week
They remain 3 percent below their expected seasonal level, reflecting ups and downs.Distillate fuel stocks fell by 1.10 million barrels to
106.70 million barrels, about 13 percent under average
These figures exceeded the three-hundred thousand-barrel draw analysts had predicted.Stocks at Cushing, Oklahoma, the delivery point for
NYMEX futures, dropped by 740 thousand barrels to 24.96 million
Benchmark pricing reacted to this tighter supply in the Midwest hub.Meanwhile, the US government added 580 thousand barrels to the Strategic
Petroleum Reserve, bringing it to 399.12 million
Domestic crude production slipped by 98 thousand barrels per day to 13.4 million barrels amid spring maintenance.United States Oil
Inventories Fall Beyond Expectations, Tightening Supplies
(Photo Internet reproduction)Imports climbed by 557 thousand barrels per day to 6.1 million barrels, boosting available supply
Exports fell by 115 thousand barrels per day to 4.0 million barrels, lifting domestic crude demand.Refinery utilization rose from 88.6
percent to 89.0 percent, slightly below the predicted 89.2 percent
Total refinery runs held steady at 16.1 million barrels per day.Traders say the draw underscores tightening US supply amid ongoing refinery
Fuel build in gasoline hints at stockpiling for the summer driving season.Distillate inventories remain lean ahead of higher oil-fired power
Overall data suggest supply and demand shifts that traders must watch closely.Storage costs influence decisions as refiners balance crude
buys and processing margins
Higher imports help refill refiners but squeeze shipping capacity in the Gulf Coast
signs of further volatility
These weekly figures shape both domestic energy security and global pricing dynamics
Industry leaders note that consistent data allow firms to adjust operations swiftly.
