Oil and refined product inventories rise in week
NEW YORK, (Reuters) - U.S. crude, gasoline and distillate stocks rose last week, the Energy Information Administration said.
Crude inventories rose by 3.6 million barrels in the last week, compared with analysts’ expectations for an increase of 2.7 million barrels.
Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.016 million barrels, EIA said.
Refinery crude runs fell by 865,000 barrels per day, EIA data showed. Refinery utilization rates fell by 4.8 percentage points.
Gasoline stocks rose by 408,000 barrels, compared with analysts’ expectations in a Reuters poll for an 826,000-barrel gain.
Distillate stockpiles, which include diesel and heating oil, rose unexpectedly by 1.2 million barrels, versus expectations for a 1.1 million-barrel drop, the EIA data showed.
Net U.S. crude imports fell last week by 430,000 barrels per day. (Jessica Resnick-Ault)
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