Oil inventories increase while refinery capacity decreases
- U.S. crude oil stocks rose by 7.3 million barrels
- Refinery capacity use was down by 1 percentage point
- Gasoline inventories rose by 344,000 barrels
- Distillate fuel stocks fell by 732,000 barrels
U.S. crude oil stocks rose sharply last week as exports fell and refineries reduced their capacity use. Commercial crude oil stocks excluding the Strategic Petroleum Reserve rose by 7.3 million barrels to 460.9 million barrels, about 3% below the five-year average. Refinery capacity use was down by 1 percentage point at 87.5%. Gasoline inventories rose by 344,000 barrels, while distillate fuel stocks fell by 732,000 barrels.
Factuality Level: 8
Factuality Justification: The article provides factual information about the U.S. crude oil stocks, including data from the U.S. Energy Information Administration and analyst predictions. It presents the numbers and changes in inventories accurately without including irrelevant details or biased opinions.
Noise Level: 3
Noise Justification: The article provides detailed information on U.S. crude oil stocks, including changes in inventories, production, imports, and exports. It includes data from the U.S. Energy Information Administration and analyst predictions. The article stays on topic and provides relevant information for those interested in the oil market. However, it lacks in-depth analysis, accountability, or insights into long-term trends or antifragility.
Financial Relevance: Yes
Financial Markets Impacted: The news article provides information on U.S. crude oil stocks, which can impact the oil market and companies involved in the oil industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article does not describe any extreme event, but it provides relevant information on U.S. crude oil stocks and their impact on the financial markets.
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