U.S. gasoline inventories increased significantly last week International oil prices fell on July 20

A significant rise in U.
S.
gasoline inventories last week sparked concerns about demand, and international crude oil futures fell at the close of trading on July 20
.

Light crude futures for August delivery fell $1.
96, or 1.
88%,
to settle at $102.
26 a barrel on the New York Mercantile Exchange by the close of the day.
London Brent crude futures for September delivery fell $0.
43, or 0.
4 percent, to settle at $106.
92 a barrel
.

Data released by the US Energy Information Administration on the 20th showed that US commercial crude oil inventories last week were 426.
6 million barrels, down 400,000 barrels
from the previous month.
Over the same period, motor gasoline inventories increased by 3.
5 million barrels month-on-month, distillate inventories decreased by 1.
3 million barrels month-on-month, and propane and propylene inventories increased by 1.
4 million barrels
month-on-month.
Including commercial crude, refined products, propane and propylene, U.
S.
commercial oil inventories rose by 1.
1 million barrels
last week from the previous month.

The data also showed that U.
S.
refineries processed an average of 16.
3 million barrels per day last week, down 321,000 barrels month-on-month; the average operating rate of U.
S.
refineries last week was 93.
7%, down from 94.
9% the previous week; U.
S.
net crude imports averaged 2.
76 million barrels per day last week, down a significant 891,000 barrels
month-on-month.

It is worth noting that commercial crude oil inventories in the Cushing region of the United States were 22.
8 million barrels last week, an increase of 1.
1 million barrels from the previous month; The U.
S
.
strategic crude oil reserve was 480 million barrels last week, down 4.
998 million barrels month-on-month, and U.
S.
crude oil production averaged 11.
9 million barrels per day last week, down 100,000 barrels month-on-month.

Data released by the American Petroleum Institute late on the 19th showed that U.
S.
commercial crude oil inventories increased by 1.
86 million barrels month-on-month last week, and commercial crude oil inventories in the Cushing area increased by 523,000 barrels
.
Over the same period, gasoline inventories increased by 1.
29 million barrels month-on-month, while distillate inventories decreased by 2.
1 million barrels
month-on-month.

John Kilduff, founding partner of Reinvest Capital, said U.
S.
gasoline demand was lower than expected
last week, to say the least.
Of course, high gasoline prices have weakened consumer confidence
.

PVM Oil Associates analyst Stephen Brennock believes that because OPEC+ has little room to increase production, it will be difficult for the oil market to balance in the coming months, which will push up oil prices
.

Russian President Vladimir Putin said on the 20th that Gazprom has fulfilled all its obligations in the past and will continue to do so
in the future.

However, Putin said that if a gas pipeline turbine repaired in Canada is not returned to Russia soon, the capacity utilization of the Nord Stream 1 gas pipeline will drop to about
20% as early as next week.