U.S. crude stocks rise unexpectedly, fuel stocks up

U.S. crude stocks, gasoline and distillate inventories rose last week, the Energy Information Administration said.

Crude inventories rose by 1.2 million barrels in the week ended Jan. 3 to 431.1 million barrels, compared with analysts’ expectations in a Reuters poll for a 3.6 million-barrel drop.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 821,000 barrels in the last week, EIA said.

Refinery crude runs fell by 386,000 barrels in the last week, EIA said. Refinery utilization rates fell by 1.5 percentage points, in the week

U.S. gasoline stocks rose by 9.1 million barrels in the week to 251.6 million barrels, the EIA said, compared with expectations in a Reuters poll for a 2.7 million-barrel rise.​

Distillate stockpiles, which include diesel and heating oil, rose by 5.3 million barrels in the week to 139 million barrels, versus expectations for a 3.9 million-barrel rise, the data showed.

Net U.S. crude imports rose by 1.78 million barrels in the last week, EIA said. (Reporting By NY Energy Desk)