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US crude stocks fall unexpectedly in week: EIA

Wednesday, August 17, 2016 - 22:50
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US crude stocks fell unexpectedly last week, while gasoline stocks decreased more than expected and distillate inventories rose, data from the Energy Information Administration showed on Wednesday.

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

Crude inventories fell by 2.5 million barrels in the last week, compared with analysts' expectations for an increase of 522,000 barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 724,000 barrels, EIA said.

Refinery crude runs rose by 268,000 barrels per day, EIA data showed. Refinery utilization rates rose by 1.3 percentage points.

Gasoline stocks fell by 2.7 million barrels, compared with analysts' expectations in a Reuters poll for a 1.6 million barrels drop.

Distillate stockpiles, which include diesel and heating oil, rose by 1.9 million barrels, versus expectations for a 742,000 barrels drop, the EIA data showed.

US crude imports fell last week by 211,000 barrels per day.

REUTERS