The rising number of new coronavirus infections and the emergence of hot spots in the United States have raised concerns about fuel demand, and data show that commercial crude oil stocks in the United States increased again last week, reaching a record high.
At 14:30 on June 17, New York time (02:30 on June 18, Beijing time), NYMEX, the most active crude oil futures in trading, fell $0.44, or 1.14%, to settle at $38.21 per barrel.
NYMEX July crude oil futures fell $0.42, or 1.1%, to settle at $37.96 a barrel.
Ice August Brent crude oil futures fell $0.25, or 0.61%, to settle at $40.71 a barrel.
US crude oil inventories unexpectedly rose last week, while gasoline and distillate inventories fell, the EIA said on Wednesday.
U.S. crude oil inventories rose 1.215 million barrels to 539.28 million in the week ended June 12, with analysts expecting a decrease of 152000 barrels. That pushed crude oil inventories to a record high this week, even as imports fell and inventories at Cushing warehouse in Oklahoma fell again.
Gasoline inventory in the United States fell by 1.666 million barrels in the current week, compared with analysts’ previous estimate of 17000 barrels; distillate inventory in the United States decreased by 1.358 million barrels to 17447.1 million barrels in the current week, with the market expected to increase by 2.4 million barrels; crude oil processing capacity of refineries increased by 116000 barrels / day in the current week. Refinery capacity utilization increased by 0.7%.