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US crude stockpiles rise less than expected in week: EIA

Wednesday, March 30, 2016 - 23:11

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US crude stocks rose less than expected last week, while gasoline and distillate inventories fell, data from the Energy Information Administration showed on Wednesday.

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

Crude inventories rose by 2.3 million barrels in the last week, compared with analysts' expectations for an increase of 3.3 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 272,000 barrels, EIA said. The decline marked the second weekly draw after the hub hit a new record.

Refinery crude runs rose by 414,000 barrels per day, EIA data showed. Refinery utilization rates rose by 2 percentage points.

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Gasoline stocks fell by 2.5 million barrels, compared with analysts' expectations in a Reuters poll for a 2.2 million barrels drop.

Distillate stockpiles, which include diesel and heating oil, fell by 1.1 million barrels, versus expectations for a 29,000-barrel build, the EIA data showed.

US crude imports fell last week by 636,000 barrels per day.

REUTERS

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