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US crude in storage rises as gasoline stockpiles tumble: EIA

Wednesday, April 1, 2015 - 22:49
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US crude inventories rose last, while gasoline stocks dropped and distillate inventories increased, data from the Energy Information Administration showed on Wednesday.

[NEW YORK] US crude inventories rose last, while gasoline stocks dropped and distillate inventories increased, data from the Energy Information Administration showed on Wednesday.

Crude inventories rose by 4.8 million barrels in the last week, compared with analysts' expectations for an increase of 4.2 million barrels.

Gasoline stocks fell by 4.3 million barrels, compared with analysts' expectations in a Reuters poll for a 943,000 barrels drop.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 2.629 million barrels, EIA said. Cushing stockpiles hit a record two weeks ago and have continued to rise to new highs.

Refinery crude runs rose by 198,000 barrels per day, EIA data showed. Refinery utilization rates rose by 0.4 percentage points.

Distillate stockpiles, which include diesel and heating oil, rose by 1.3 million barrels, versus expectations for a 286,000 barrels drop, the EIA data showed.

US crude imports fell last week by 44,000 barrels per day.

REUTERS