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US crude stocks rise for fourth consecutive week: EIA
[WASHINGTON] US crude stocks rose last week for the fourth consecutive week, maintaining a record high, while gasoline and distillate inventories increased , data from the Energy Information Administration showed on Wednesday.
Crude inventories rose by 6.3 million barrels in the last week, compared with analysts' expectations for an increase of 3.5 million barrels.
Crude stocks at the Cushing, Oklahoma, delivery hub rose by 2.5 million barrels, EIA said.
Refinery crude runs rose by 288,000 barrels per day, EIA data showed. Refinery utilization rates rose by 1.9 percentage points.
Gasoline stocks rose by 2.3 million barrels, compared with analysts' expectations in a Reuters poll for a 67,000-barrel gain.
Distillate stockpiles, which include diesel and heating oil, rose by 1.8 million barrels, versus expectations for a 1.8-million barrel drop, the EIA data showed.
US crude imports fell last week by 35,000 barrels per day.