U.S. crude stocks fell in latest week -API

U.S. crude oil stocks fell in the most recent week while gasoline inventories declined and distillate stocks rose, data from industry group the American Petroleum Institute showed.

Crude inventories fell by 7.8 million barrels in the week to Dec. 27, to 436 million barrels, compared with analysts’ expectations for a draw of 3.2 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.4 million barrels, API said.

Refinery crude runs rose by 74,000 barrels per day, API data showed.

Gasoline stocks fell by 776,000 barrels, compared with analysts’ expectations in a Reuters poll for a 2.1 million-barrel gain.

Distillate fuel inventories, which include diesel and heating oil, rose by 2.8 million barrels, compared with expectations for a 1.8 million-barrel gain, the data showed.

U.S. crude imports fell last week by 447,000 barrels per day to 5.97 million bpd.
Source: Reuters (Reporting by David Gaffen; Editing by Dan Grebler)