You are here
US crude stockpiles fall 4.2 million barrels in latest week: EIA
[NEW YORK] US crude stocks declined far more than expected last week, while gasoline stocks decreased and distillate inventories rose, data from the Energy Information Administration showed on Wednesday.
Crude inventories fell by 4.2 million barrels in the last week, more than twenty times analysts' expectations for an decrease of 184,000 barrels.
Crude stocks at the Cushing, Oklahoma, delivery hub fell by 212,000 barrels, EIA said.
Refinery crude runs fell by 108,000 barrels per day, EIA data showed. Refinery utilization rates fell by 0.4 percentage points.
Gasoline stocks fell by 363,000 barrels, compared with analysts' expectations in a Reuters poll for a 512,000 barrels gain.
Distillate stockpiles, which include diesel and heating oil, rose by 2.6 million barrels, versus expectations for a 1.5 million barrels increase, the EIA data showed.
US crude imports fell last week by 396,000 barrels per day.