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US crude stockpiles rise setting record for 5th week

[WASHINGTON] EIA US crude stocks rose to a new record weekly high last week, while gasoline stocks increased and distillate inventories fell, data from the Energy Information Administration showed on Wednesday.

Crude inventories rose by 4.9 million barrels in the last week, compared with analysts' expectations for an increase of 3.7 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.214 million barrels, EIA said.

Refinery crude runs rose by 20,000 barrels per day, EIA data showed. Refinery utilization rates rose by 0.1 percentage points.

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Gasoline stocks rose by 2.0 million barrels, compared with analysts' expectations in a Reuters poll for a 200,000 barrels gain.

Distillate stockpiles, which include diesel and heating oil, fell by 3.3 million barrels, versus expectations for a 817,000 barrels drop, the EIA data showed.

US crude imports fell last week by 101,000 barrels per day.

REUTERS

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