U.S. crude oil and gasoline inventories rise, distillates fall
U.S. crude oil and gasoline inventories rose while distillates fell last week, the U.S. Energy Information Administration (EIA) said on Wednesday.
Crude inventories rose by 3.9 MMbbl to 417 MMbbl in the week ended Sept. 27, the EIA said.
Crude stocks at the Cushing, Oklahoma, delivery hub rose by 840,000 bbl, the EIA said.
Brent crude futures and U.S. crude futures pared gains following the report, last up 2.12% and 2.3%. respectively.
Refinery crude runs fell by 662,000 bpd, while refinery utilization rates fell by 3.3% in the week to 87.6%.
U.S. gasoline stocks rose by 1.1 MMbbl in the week to 221 MMbbl, the EIA said.
Distillate stockpiles, which include diesel and heating oil, fell by 1.3 MMbbl in the week to 122 MMbbl.
Net U.S. crude imports rose last week by 191,000 bpd, EIA said.
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