According to foreign sources on November 15th, data released by the US Energy Information Administration (EIA) on Wednesday showed that US crude oil inventories jumped last week, while gasoline inventories unexpectedly decreased due to refineries increasing processing capacity amidst strong seasonal demand.

After two weeks of interruption due to a planned system upgrade, EIA resumed publishing its weekly inventory report.

As of the week ending November 10th, US crude oil inventories increased by 3.6 million barrels to 439.4 million barrels, while analysts estimate an increase of 1.8 million barrels.

In the face of strong demand for refined oil products, refineries that had previously been unable to recover from autumn maintenance began to slowly increase production.

Last week, the crude oil processing volume of the refinery increased by 164,000 barrels per day, and the refinery's capacity utilization rate increased by 0.9 percentage points to 86.1%.

According to the EIA, as of the week ending November 10th, US gasoline inventories unexpectedly decreased by 1.5 million barrels to 215.7 million barrels, with a market estimate of an increase of 600,000 barrels.

If this gasoline demand continues, we expect refineries to increase some production, "said John Kilduff, a partner at Again Capital LLC in New York

EIA data shows that as of the week ending November 10th, distillate oil inventories, including diesel and heating oil, decreased by 1.4 million barrels to 106.6 million barrels, with analysts expecting a decrease of 1.2 million barrels.

After the report was released, crude oil futures reduced some of their losses. US crude oil futures are trading at around $71.55 per barrel, while Brent crude oil futures are trading at around $82 per barrel.

According to the EIA, crude oil inventory at the Cushing warehouse in Oklahoma, the delivery location of NYMEX crude oil futures, increased by 1.9 million barrels last week.

The net import of crude oil in the United States has decreased by 385,000 barrels per day.

The data also shows that as of the week ending November 3rd, the US crude oil inventory was 4,357.6 million barrels, gasoline inventory was 217.21 million barrels, and distillate inventory was 108 million barrels.

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