US oil stockpiles rise twice as much as expected in week: EIA
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[NEW YORK] US crude stocks rose more than twice as much as expected last week, while gasoline stocks increased and distillate inventories fell, data from the Energy Information Administration showed on Wednesday.
Crude inventories rose by 10.3 million barrels in the last week, compared with analysts' expectations for an increase of 4.2 million barrels.
Crude stocks at the Cushing, Oklahoma, delivery hub rose by 536,000 barrels, EIA said.
Refinery crude runs fell by 130,000 barrels per day, EIA data showed. Refinery utilization rates fell by 0.8 percentage points.
Gasoline stocks remained unchanged, compared with analysts' expectations in a Reuters poll for a 1.9-million-barrel drop.
Distillate stockpiles, which include diesel and heating oil, fell by 1.7 million barrels, versus expectations for a 2.7-million-barrel drop, the EIA data showed.
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US crude imports rose last week by 89,000 barrels per day.
REUTERS
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