You are here
US crude stocks rose more than expected in week: EIA
[NEW YORK] US crude stocks rose far more than expected last week as refineries cut output, while gasoline and distillate inventories rose, data from the Energy Information Administration showed on Wednesday.
Crude inventories rose by 5.4 million barrels in the last week, compared with analysts' expectations for an increase of 417,000 barrels.
Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.776 million barrels, EIA said.
Refinery crude runs fell by 527,000 barrels per day, EIA data showed. Refinery utilization rates fell by 2.9 per centage points.
Gasoline stocks rose by 3.2 million barrels, compared with analysts' expectations in a Reuters poll for a 3.5-million-barrel gain.
Distillate stockpiles, which include diesel and heating oil, rose by 2.9 million barrels, versus expectations for a 2.1-million-barrel increase, the EIA data showed.
US crude imports rose last week by 636,000 barrels per day.