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US crude stocks unexpectedly slip: EIA

Wednesday, September 14, 2016 - 23:10

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US crude stocks surprisingly fell last week, while gasoline stocks increased and distillate inventories rose, data from the US Energy Information Administration showed on Wednesday.

[NEW YORK] US crude stocks surprisingly fell last week, while gasoline stocks increased and distillate inventories rose, data from the US Energy Information Administration showed on Wednesday.

Crude inventories fell by 559,000 barrels in the last week, compared with expectations for an increase of 3.8 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.245 million barrels, EIA said.

Gasoline stocks rose by 567,000 barrels, compared with analysts' expectations in a Reuters poll for a 343,000-barrel gain.

Distillate stockpiles, which include diesel and heating oil, rose by 4.6 million barrels, versus expectations for a 1.5 million-barrel increase, the EIA data showed.

US crude imports rose last week by 1.076 million barrels per day.

Refinery crude runs fell by 200,000 barrels per day, EIA data showed. Refinery utilization rates fell by 0.8 percentage points.

REUTERS

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