US oil stocks rise, gasoline inventories also higher
[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
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Anglo rejects BHP takeover bid as significantly undervalued
India rice prices at three-month low on shrinking demand
Gold prices set for weekly decline ahead of US inflation data
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply
Oil settles higher as weak US economic growth offset by supply concerns
India's Vedanta misses Q4 profit estimates on lower prices