You are here
US crude stocks rise unexpectedly as Cushing builds: EIA
[NEW YORK] US crude stocks rose last week, surprising analysts who expected a decline in the week, as gasoline and distillate inventories also increased, data from the Energy Information Administration showed on Wednesday.
Crude inventories rose by 4.8 million barrels in the last week, compared with analysts' expectations for an decrease of 1.4 million barrels.
Crude stocks at the Cushing, Oklahoma, delivery hub rose by 607,000 barrels, EIA said.
Refinery crude runs fell by 41,000 barrels per day, EIA data showed. Refinery utilization rates fell by 1.2 percentage points.
Gasoline stocks rose by 1.7 million barrels, compared with analysts' expectations in a Reuters poll for a 2 million barrels gain.
Distillate stockpiles, which include diesel and heating oil, rose by 2.6 million barrels, versus expectations for a 2.2 million barrels increase, the EIA data showed.
US crude imports rose last week by 291,000 barrels per day.