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US crude stocks plunge more than 14 mln barrels: EIA

Thursday, September 8, 2016 - 23:20
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US crude stocks fell by more than 14 million barrels last week, while gasoline stocks decreased and distillate inventories rose, the US Energy Information Administration said on Thursday.

[NEW YORK] US crude stocks fell by more than 14 million barrels last week, while gasoline stocks decreased and distillate inventories rose, the US Energy Information Administration said on Thursday.

Crude inventories fell by 14.5 million barrels in the last week, compared with expectations for an increase of 225,000 barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 434,000 barrels, EIA said.

Refinery crude runs rose by 315,000 barrels per day, EIA data showed. Refinery utilization rates rose by 0.9 percentage points.

Gasoline stocks fell by 4.2 million barrels, compared with analysts' expectations in a Reuters poll for a 171,000-barrel drop.

Distillate stockpiles, which include diesel and heating oil, rose by 3.4 million barrels, versus expectations for a 684,000 barrels increase, the EIA data showed.

US crude imports fell last week by 1.7 million barrels per day.

REUTERS

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