U.S. crude inventories fall in latest week: EIA
U.S. crude stocks fell unexpectedly last week, while gasoline stocks decreased and distillate inventories rose, the Energy Information Administration said on Wednesday.
Crude inventories fell by 876,000 barrels in the last week, compared with analysts’ expectations for an increase of 107,000 barrels.
Crude stocks at the Cushing, Oklahoma, delivery hub rose by 782,000 barrels, EIA said.
Refinery crude runs rose by 552,000 barrels per day, EIA data showed. Refinery utilization rates rose by 2.3 percentage points.
Gasoline stocks fell by 1.7 million barrels, compared with analysts’ expectations in a Reuters poll for a 730,000-barrel gain.
Distillate stockpiles, which include diesel and heating oil, rose by 2.5 million barrels, versus expectations for a 171,000-barrel increase, the EIA data showed.
Net U.S. crude imports fell last week by 170,000 barrels per day.