EIA: US crude inventories declined for the seventh straight week

The Energy Information Agency has released the weekly data on the US crude inventories that showed 6.9 million barrels dropped to 445.5 million barrels by the week ending 2 July 2021 – the seventh straight falling week. 

Refinery utilization rate fell 0.7 percentage points to 92.2%.

Total gasoline inventories decreased 6.1 million barrels last week, indicating the strong demand during the driving season.