22-Feb-2025 14:57

WTI Crude oil futures fell sharply as a slide from a one week high around $73 per barrel continued. The counter dropped near two month low of $70 per barrel. Crude oil inventories in the United States saw a build of 4.6 million barrels during the week ending February 14, according to new data from the U.S. Energy Information Administration. The build in crude inventories is in line with seasonal trends and adds to the 4.1 million barrels that the EIA estimated for the week prior. EIA stated further that US crude oil refinery inputs averaged 15.4 million barrels per day during the week ending February 14, 2025, which was 15 thousand barrels per day less than the previous week's average. Refineries operated at 84.9% of their operable capacity last week. Gasoline production decreased last week, averaging 9.2 million barrels per day. Distillate fuel production increased last week, averaging 4.7 million barrels per day. U.S. crude oil imports averaged 5.8 million barrels per day last week, decreased by 488 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.4 million barrels per day, 0.6% less than the same four-week period last year.

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