US crude stockpiles rise alongside domestic output and imports, DoE says
Updated : 16:34
US crude oil and product stockpiles were mostly higher last week against a back drop of rising domestic production and net imports.
During the week ending on 10 November, commercial crude oil inventories grew by 1.9m barrels from the previous week to reach 459m barrels, according to the Energy Information Administration, the US Department of Energy's statistical arm.
Similarly, imports increased by 521,000 b/d to average 7.9m b/d, the EIA said, with net imports up by 261,000 b/d to 6.77m b/d.
Meanwhile, domestic US oil output rose by another 25,000 barrel a day to 9.645m b/d.
In parallel, gasoline stockpiles increased by 0.9m barrels while those of distillates fell by 0.8m barrels last week, as refineries operated at 91.0% of their capacity.
As of 16:02 GMT, West Texas Intermediate crude oil futures were 1% lower at $55.17 a barrel on the ICE.