You are here

US crude inventories rise less than expected: EIA

[NEW YORK] US crude stocks rose last week to a fresh record high as distillate inventories fell more than expected and imports ebbed, data from the Energy Information Administration showed on Wednesday.

Crude inventories rose by 2 million barrels in the week to April 22, compared with analysts' expectations for an increase of 2.4 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.75 million barrels, EIA said.

Refinery crude runs fell by 257,000 barrels per day, EIA data showed. Refinery utilization rates fell by 1.3 percentage points.

Gasoline stocks rose by 1.6 million barrels, compared with analysts' expectations in a Reuters poll for a 400,000-barrel drop.

Distillate stockpiles, which include diesel and heating oil, fell by 1.7 million barrels, significantly more than the 314,000-barrel drop expected, the EIA data showed.

US crude imports fell last week by 688,000 barrels per day.

REUTERS