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Crude stocks rise as distillate declines more than expected: EIA
[NEW YORK] US crude stocks rose last week, while gasoline stocks and distillate inventories fell, data from the Energy Information Administration showed on Wednesday.
Crude inventories rose by 3.4 million barrels in the last week, compared with analysts' expectations for an increase of 3.4 million barrels.
Crude stocks at the Cushing, Oklahoma, delivery hub fell by 785,000 barrels, EIA said.
Refinery crude runs rose by 271,000 barrels per day, EIA data showed. Refinery utilization rates rose by 1.2 percentage points.
Gasoline stocks fell by 1.1 million barrels, compared with analysts' expectations in a Reuters poll for a 817,000 barrels drop.
Distillate stockpiles, which include diesel and heating oil, fell by 3 million barrels, versus expectations for a 1.7 million barrels drop, the EIA data showed.
US crude imports fell last week by 417,000 barrels per day.