You are here

US crude inventories down sharply: EIA

[NEW YORK] US crude stocks fell sharply last week as refineries cut output, while gasoline stocks decreased and distillate inventories rose, data from the Energy Information Administration showed on Wednesday.

Crude inventories fell by 6.2 million barrels in the week to Sept 16, compared with analysts' expectations for an increase of 3.4 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 526,000 barrels, EIA said.

Refinery crude runs fell by 143,000 barrels per day, EIA data showed. Refinery utilization rates fell by 0.9 percentage points.

Gasoline stocks fell by 3.2 million barrels, compared with analysts' expectations in a Reuters poll for a 567,000 barrels drop.

Distillate stockpiles, which include diesel and heating oil, rose by 2.2 million barrels, versus expectations for a 250,000 barrels increase, the EIA data showed.

US crude imports rose last week by 77,000 barrels per day.

REUTERS