Mubasher: US crude oil stockpiles dropped by 3.1 million barrels to 482.4 million barrels in the week ended 14 June, the Energy Information Administration (EIA) said.

Total motor gasoline inventories fell by 1.7 million barrels, while distillate fuel stockpiles slipped by 600,000 barrels.

US crude refinery runs averaged 17.3 million barrels per day (bpd) during the week, 200,000 bpd higher the previous week’s average.

In addition, refineries operated at 93.9% of their operating capacity last week.

US crude imports declined by 144,000 million bpd to an average of 7.5 million bpd for the week, compared to the prior week, the EIA said.

Following the EIA’s release, US Nymex crude futures fell by 0.82% to $53.46 per barrel (pb), while international benchmark Brent futures dropped by 0.89% to $61.59 pb.