Refineries Increase Capacity Use

  • U.S. crude oil stocks fell more than expected last week
  • Gasoline inventories declined
  • Refineries increased their capacity use
  • Commercial crude-oil stocks fell to 436.6 million barrels
  • Oil stored at Cushing, Okla. rose by 1.5 million barrels
  • Gasoline stockpiles fell to 226.1 million barrels

U.S. crude oil stocks fell more than expected last week, with gasoline inventories also declining. Refineries increased their capacity use, contributing to the decrease in crude oil stocks. Commercial crude-oil stocks fell to 436.6 million barrels, while oil stored at Cushing, Okla. rose by 1.5 million barrels. Gasoline stockpiles fell to 226.1 million barrels. These developments indicate a tightening of the oil market and may have an impact on oil prices in the near future.

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Factuality Level: 8
Justification: The article provides factual information about the U.S. crude oil stocks, gasoline inventories, and refinery capacity use, as reported by the U.S. Energy Information Administration. The data is supported by specific numbers and percentages. There is no apparent bias or opinion presented in the article.

Noise Level: 7
Justification: The article provides data on U.S. crude oil stocks, gasoline inventories, and refinery capacity use. It includes information on how these numbers compare to previous weeks and the five-year average. The article also mentions the expectations of analysts surveyed by The Wall Street Journal. However, it lacks analysis of long-term trends or antifragility, and does not hold powerful people accountable or provide actionable insights or solutions.

Financial Relevance: Yes
Financial Markets Impacted: The news article provides information on U.S. crude oil stocks, gasoline inventories, and refinery capacity use, which are all relevant to the energy and oil markets. Companies in the oil and gas industry may be impacted by the changes in inventories and refinery capacity.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The news article does not describe any extreme event. It focuses on the weekly changes in U.S. crude oil stocks, gasoline inventories, and refinery capacity use.

Reported publicly: www.marketwatch.com