Increase in Gasoline and Distillate Stocks Amid Lower Demand
- U.S. crude oil inventories increased for the first time in four weeks
- Gasoline and distillate stocks also rose
- Refineries operating at 92.8% of capacity
- EIA data shows stocks compared to forecasts
The U.S. Energy Information Administration (EIA) reported that U.S. crude oil inventories increased by 833,000 barrels to 419.1 million barrels in the week ended September 6th, marking the first increase in four weeks. Gasoline and distillate fuel stockpiles also rose by 2.3 million barrels each, reaching 221.6 million and 125 million barrels respectively. Refineries were operating at 92.8% of capacity, down from 93.3% the previous week. The EIA data showed that gasoline stocks increased by 100,000 barrels and distillate stocks by 400,000 barrels, while analysts surveyed by The Wall Street Journal had predicted a rise of 700,000 barrels for crude oil inventories and 100,000 barrels for gasoline stocks. However, distillate stocks were expected to decrease by 400,000 barrels.
Factuality Level: 9
Factuality Justification: The article provides accurate and objective information about the changes in U.S. crude oil inventories, gasoline, and distillate stocks based on data from the U.S. Energy Information Administration. It also includes relevant forecasts for comparison. The information is presented without any apparent bias or personal perspective.
Noise Level: 3
Noise Justification: The article provides relevant information about changes in U.S. crude oil inventories and related stocks, but it lacks a comprehensive analysis or contextualization of the data. It does not explore long-term trends or consequences of these changes, nor does it offer actionable insights or solutions.
Public Companies: U.S. Energy Information Administration (), The Wall Street Journal ()
Key People: Anthony Harrup (Author)
Financial Relevance: Yes
Financial Markets Impacted: Energy sector
Financial Rating Justification: The article discusses changes in U.S. crude oil inventories and their impact on gasoline and distillate stocks, which are relevant to the energy sector and can affect financial markets due to their influence on supply and demand dynamics.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned and no major impact on the text
Move Size: 4%
Sector: Energy
Direction: Down
Magnitude: Small
Affected Instruments: Stocks
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