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U.S. crude stocks rise unexpectedly in week – EIA

U.S. crude stocks rose unexpectedly last week, while gasoline stockpiles decreased and distillate inventories rose, the Energy Information Administration said on Wednesday.

Crude inventories rose by 5.4 million barrels in the last week, compared with analysts’ expectations for a decrease of 800,000 barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.8 million barrels, EIA said.

Refinery crude runs rose by 271,000 barrels per day, EIA data showed. Refinery utilization rates rose by 1.6 percentage points.

Gasoline stocks fell by 1.1 million barrels, compared with analysts’ expectations in a Reuters poll for a 299,000-barrel drop.

Distillate stockpiles, which include diesel and heating oil, rose by 84,000 barrels, versus expectations for a 1 million-barrel drop, the EIA data showed.

Net U.S. crude imports fell last week by 106,000 barrels per day.
Source: Reuters (Jessica Resnick-Ault)

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