U.S. crude and gasoline stocks fall in week – EIA

U.S. crude and gasoline stocks fall in week – EIA

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

Crude inventories fell by 2.5 million barrels in the last week, surpassing analysts’ expectations for an decrease of 2.1 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.08 million barrels, EIA said.
Gasoline stocks fell by 578,000 barrels, compared with analysts’ expectations in a Reuters poll for a 443,000 barrels gain. An seasonally unusual gasoline build last week was seen as bearish in the market.
Distillate stockpiles, which include diesel and heating oil, rose by 1.1 million barrels, versus expectations for a 465,000 barrels increase, the EIA data showed.

Refinery crude runs fell by 104,000 barrels per day, EIA data showed. Refinery utilization rates fell by 0.4 percentage points.

U.S. crude imports rose last week by 56,000 barrels per day. (Reporting By Jessica Resnick-Ault)

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