U.S. crude stocks jump in most recent week – EIA
U.S. crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday.
Crude inventories rose by 8.5 million barrels in the week to May 6 to 424.2 million barrels, compared with analysts’ expectations in a Reuters poll for a 0.5 million-barrel drop.
Crude stocks at the Cushing, Oklahoma, delivery hub fell by 587,000 barrels in the last week, EIA said.
Refinery crude runs rose by 230,000 barrels per day in the last week, EIA said.
Refinery utilization rates rose by 1.6 percentage points in the week.
U.S. gasoline stocks fell by 3.6 million barrels in the week to 225 million barrels, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.6 million-barrel drop.
Distillate stockpiles, which include diesel and heating oil, fell by 913,000 barrels in the week to 104 million barrels, versus expectations for a 1.3 million-barrel drop, the EIA data showed.
Net U.S. crude imports rose last week by 632,000 barrels per day, EIA said.
Source: Reuters (Reporting By David Gaffen)