U.S. crude stocks rise, fuel inventories down – EIA
U.S. crude stocks rose last week as refineries hiked output, while gasoline stocks decreased and distillate inventories fell, the Energy Information Administration said on Wednesday.
Crude inventories rose by 1 million barrels in the week to November 19, compared with analysts’ expectations for a decrease of 481,000 barrels.
Crude stocks at the Cushing, Oklahoma, delivery hub rose by 787,000 barrels, EIA said.
Refinery crude runs rose by 243,000 barrels per day, EIA data showed. Refinery utilization rates rose by 0.7 percentage points.
Gasoline stocks fell by 603,000 barrels, compared with analysts’ expectations in a Reuters poll for a 461,000-barrel drop.
Distillate stockpiles, which include diesel and heating oil, fell by 2 million barrels, versus expectations for a 1 million-barrel drop, the EIA data showed.
Net U.S. crude imports rose last week by 1.3 million barrels per day.
Source: Reuters (Reporting By David Gaffen)