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US crude stocks fall in week, but Cushing inventories reach new high: EIA
[NEW YORK] US crude stocks fell last week as refineries cut output, while gasoline and distillate inventories rose, data from the Energy Information Administration showed on Wednesday.
Crude inventories fell by 754,000 barrels in the last week, compared with analysts' expectations for an increase of 3.6 million barrels.
Crude stocks at the Cushing, Oklahoma, delivery hub rose by 523,000 barrels, EIA said. The increase brought stockpiles at the hub to a new record.
Refinery crude runs fell by 105,000 barrels per day, EIA data showed. Refinery utilization rates fell by 0.5 percentage points.
Gasoline stocks rose by 1.3 million barrels, compared with analysts' expectations in a Reuters poll for a 417,000 barrels gain.
Distillate stockpiles, which include diesel and heating oil, rose by 1.3 million barrels, versus expectations for a 1.6 million barrels drop, the EIA data showed.
US crude imports fell last week by 1.132 million barrels per day.