US crude stocks build less than expected as Cushing draws: EIA

[NEW YORK] US crude stocks rose less than expected last week as inventories at the oil hub at Cushing, Oklahoma, declined for the first time since November, data from the Energy Information Administration showed on Wednesday.

Crude inventories rose by 1.9 million barrels in the last week, compared with analysts' expectations for an increase of 2.3 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 514,000 barrels, EIA said. The decline at Cushing was the first since Nov 28, according to EIA data.

Refinery crude runs rose by 118,000 barrels per day, EIA data showed. Refinery utilization rates rose by 0.1 percentage points.

Gasoline stocks rose by 1.7 million barrels, compared with analysts' expectations in a Reuters poll for a 217,000 barrels gain.

Distillate stockpiles, which include diesel and heating oil, fell by 66,000 barrels, versus expectations for a 1.2 million barrels increase, the EIA data showed.

US crude imports fell last week by 283,000 barrels per day.

REUTERS