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Crude stocks rebound, product inventories fall: EIA
[WASHINGTON] US crude stocks rose last week as refineries cut output, while gasoline stocks decreased and distillate inventories fell, data from the Energy Information Administration showed on Thursday.
Crude inventories rose by 4.9 million barrels in the week to Oct 7, compared with analyst expectations for an increase of 650,000 barrels.
Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.3 million barrels, EIA said.
Refinery crude runs fell by 480,000 barrels per day, EIA data showed. Refinery utilization rates fell by 2.8 percentage points.
Gasoline stocks fell by 1.9 million barrels, compared with analysts' expectations in a Reuters poll for a 1.5 million barrel-drop.
Distillate stockpiles, which include diesel and heating oil, fell by 3.7 million barrels, versus expectations for a 1.6 million-barrel drop, the EIA data showed.
US crude imports rose last week by 110,000 barrels per day.