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US crude inventories down again

Wednesday, September 28, 2016 - 23:31

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

Crude inventories fell by 1.9 million barrels in the week to Sept. 23, compared with analysts' expectations for an increase of 3.0 million barrels.

US crude imports fell last week by 393,000 barrels per day.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 631,000 barrels, EIA said.

Refinery crude runs fell by 253,000 barrels per day, EIA data showed. Refinery utilization rates fell by 1.9 percentage points.

Gasoline stocks rose by 2.0 million barrels, compared with expectations in a Reuters poll for a gain of 178,000 barrels.

Distillate stockpiles, which include diesel and heating oil, fell by 1.9 million barrels, versus expectations for a 14,000 decline, the EIA data showed.


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