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US oil stocks rise, gasoline inventories also higher

Wednesday, February 15, 2017 - 23:44

[NEW YORK] US crude stocks rose last week as refineries cut output, while gasoline stocks increased and distillate inventories fell, the Energy Information Administration said on Wednesday.

Crude inventories rose by 9.5 million barrels in the week ended Feb 10, compared with analysts' expectations for an increase of 3.5 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 702,000 barrels, EIA said.

Refinery crude runs fell by 435,000 barrels per day, EIA data showed. Refinery utilisation rates fell by 2.3 percentage points.

Gasoline stocks rose by 2.8 million barrels, compared with analysts' expectations in a Reuters poll for a 752,000-barrel drop.

Distillate stockpiles, which include diesel and heating oil, fell by 689,000 barrels, versus expectations for a 696,000-barrel fall, the EIA data showed.

US crude imports fell last week by 1.34 million barrels per day.

REUTERS

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