You are here

US oil stockpile show smallest rise this year: EIA

OilJacks150415.jpg
US crude stocks rose less than expected last week as imports fell, while gasoline stocks decreased and distillate inventories rose, data from the Energy Information Administration showed on Wednesday.

[NEW YORK] US crude stocks rose less than expected last week as imports fell, while gasoline stocks decreased and distillate inventories rose, data from the Energy Information Administration showed on Wednesday.

Crude inventories rose by 1.3 million barrels in the last week, the smallest build reported since the week ended Jan 2, compared with analysts' expectations for an increase of 4.1 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.287 million barrels, EIA said.

Refinery crude runs rose by 283,000 barrels per day, EIA data showed. Refinery utilization rates rose by 2.2 percentage points.

Gasoline stocks fell by 2.1 million barrels, compared with analysts' expectations in a Reuters poll for a 200,000 barrels drop.

Distillate stockpiles, which include diesel and heating oil, rose by 2.0 million barrels, versus expectations for a 886,000 barrels increase, the EIA data showed.

U.S. crude imports fell last week by 1.069 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