US crude oil stockpiles decline in latest week, DoE says

US oil inventories decreased last week, as did those for some of the main oil products.

Crude oil stockpiles Stateside dropped by 2.3m barrels during the week ending on 15 July, according to the Energy Information Administration, the US Department of Energy's statistical arm.

Gasoline inventories on the other hand rose by 900,000 barrels while those of distillates dipped 200,000.

Oil imports during the reference week registered an increase of 293,000 a day.

Refiners operated at 93.2% of their operating capacity last week.

As of 16:13 BST front month Brent crude oil futures were up by 0.554% to $46.92 per barrel on the ICE.