U.S. crude stocks rose by 8.7 mln bbls in latest week -API

U.S. crude oil, gasoline and distillate stocks all rose, data from industry group the American Petroleum Institute showed on Wednesday.

Crude inventories rose by 8.7 million barrels in the week to May 22 to 530 million barrels, compared with analysts’ expectations for a draw of 1.9 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 3.4 million barrels, API said.

Refinery crude runs rose by 332,000 barrels per day, API data showed.

Gasoline stocks rose by 1.1 million barrels, compared with analysts’ expectations in a Reuters poll for a 100,000-barrel build.

Distillate fuel inventories, which include diesel and heating oil, rose by 6.9 million barrels, compared with expectations for an increase of 1.8 million barrels.

U.S. crude imports rose last week by 2 million barrels per day, the data showed.
Source: Reuters (Reporting By New York Energy Desk)