U.S. crude stocks up as refineries cut back runs
U.S. crude stocks rose last week as refineries cut output, while gasoline stocks decreased and distillate inventories fell, the Energy Information Administration said.
Crude inventories rose by 3.1 million barrels in the week ended Sept 27, compared with analyst expectations for an increase of 1.6 million barrels.
Crude stocks at the Cushing, Oklahoma, delivery hub fell by 201,000 barrels, EIA said.
Refinery crude runs fell by 496,000 barrels per day, EIA data showed. Refinery utilization rates fell by 3.4 percentage points.
Gasoline stocks fell by 228,000 barrels, compared with analysts’ expectations in a Reuters poll for a 449,000-barrel gain.
Distillate stockpiles, which include diesel and heating oil, fell by 2.4 million barrels, versus expectations for a 1.8 million-barrel drop, the EIA data showed.
Net U.S. crude imports rose last week by 29,000 barrels per day.
Reporting By David Gaffen
Comments