U.S. crude stocks jump more than anticipated
U.S. crude stocks rose more than expected while gasoline and distillate inventories fell last week, the Energy Information Administration said.
Crude inventories rose by 7.5 million barrels in the week to Feb. 7 to 435 million barrels, compared with analysts’ expectations in a Reuters poll for a 3 million-barrel rise.
Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.7 million barrels in the last week, EIA said.
Refinery crude runs rose by 48,000 barrels per day in the last week, EIA said. Refinery utilization rates rose by 0.6 percentage points.
U.S. gasoline stocks fell by 95,000 barrels in the week to 261.1 million barrels, the EIA said, compared with analysts’ expectations in a Reuters poll for a 546,000-barrel rise.
Distillate stockpiles, which include diesel and heating oil, fell by 2 million barrels in the week to 143.2 million barrels, versus expectations for a 557,000-barrel drop, the EIA data showed.
Net U.S. crude imports rose last week by 806,000 barrels per day in the last week, EIA said. (Reporting By David Gaffen)
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