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US crude stocks fell more than expected last week: EIA
[NEW YORK] US crude stocks fell more than expected last week, while gasoline stocks increased and distillate inventories fell, data from the Energy Information Administration showed on Wednesday.
Crude inventories fell by 1.9 million barrels in the last week, compared with analysts' expectations for an decrease of 533,000 barrels.
Crude stocks at the Cushing, Oklahoma, delivery hub fell by 462,000 barrels, EIA said.
Refinery crude runs fell by 310,000 barrels per day, EIA data showed. Refinery utilization rates fell by 2.2 percentage points.
Gasoline stocks rose by 1.4 million barrels, compared with analysts' expectations in a Reuters poll for a 819,000-barrel gain.
Distillate stockpiles, which include diesel and heating oil, fell by 2.1 million barrels, versus expectations for a 1.3-million-barrel increase, the EIA data showed.
US crude imports fell last week by 13,000 barrels per day.