HOUSTON, May 9 (Xinhua) -- U.S. crude oil inventories decreased in the week to May 4, and the refining sector fell 75,000 barrels per day, the U.S. Energy Information Administration (EIA) said in a report on Wednesday.
According to the Weekly Petroleum Status Report, U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, decreased by 2.2 million barrels during the week ending May 4.
At 433.8 million barrels, U.S. crude oil inventories are in the lower half of the average range for this time of year.
Total products supplied over the last four-week period averaged about 20.3 million barrels per day, up by 2.7 percent from the same period last year.
Over the last four weeks, motor gasoline product supplied averaged about 9.5 million barrels per day, up by 2.2 percent from the same period last year.
Distillate fuel product supplied averaged over 4.2 million barrels per day over the last four weeks, up by 4.1 percent from the same period last year. The jet fuel product supplied is down 1.5 percent compared to the same four-week period last year.
Oil prices settled sharply higher on Wednesday after U.S. President Donald Trump said the country will withdraw from the Iran nuclear deal.
The West Texas Intermediate (WTI) for June delivery gained 2.08 U.S. dollars to settle at 71.14 dollars a barrel on the New York Mercantile Exchange, while Brent crude for July delivery increased 2.36 dollars to close at 77.21 dollars a barrel on the London ICE Futures Exchange.
