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US crude stockpiles fall more than expected in week: EIA

Wednesday, August 5, 2015 - 22:59

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

Crude inventories fell by 4.4 million barrels in the last week, compared with analysts' expectations for an decrease of 1.5 million barrels.

US crude imports fell last week by 370,000 barrels per day, or about 2.5 million barrels over the course of the week.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 542,000 barrels, EIA said.

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Refinery crude runs rose by 313,000 barrels per day, EIA data showed. Refinery utilization rates rose by 1 percentage point. Refineries on the East Coast ran at their highest rates on record.

Gasoline stocks rose by 811,000 barrels, compared with analysts' expectations in a Reuters poll for a 488,000 barrels drop.

Distillate stockpiles, which include diesel and heating oil, rose by 709,000 barrels, versus expectations for a 1.5 million barrels increase, the EIA data showed.

REUTERS

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