You are here

US crude stocks rise on higher imports, refinery runs: EIA

Friday, February 19, 2016 - 00:18

[NEW YORK] US crude stocks rose last week as refineries hiked output, while gasoline and distillate inventories rose and imports grew, data from the Energy Information Administration showed on Thursday.

Crude inventories rose by 2.1 million barrels in the last week, compared with analysts' expectations for an increase of 3.9 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 36,000 barrels, EIA said. That sets a new record high for the third straight week.

Refinery crude runs rose by 338,000 barrels per day, EIA data showed. Refinery utilization rates rose by 2.2 percentage points.

sentifi.com

Market voices on:

Gasoline stocks rose by 3.0 million barrels, compared with analysts' expectations in a Reuters poll for a 500,000-barrel gain.

Distillate stockpiles, which include diesel and heating oil, rose by 1.4 million barrels, versus expectations for a 1.5-million barrel drop, the EIA data showed.

US crude imports rose last week by 795,000 barrels per day.

REUTERS

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom