U.S. crude, gasoline stocks soar in most recent week
U.S. crude stocks soared by more than 15 million barrels, most in one week in history, and gasoline stocks increased by more than 10 million barrels, the Energy Information Administration said.
Crude inventories rose by 15.2 million barrels in week to April 3, the biggest-one week rise in crude stocks, to 484.4 million barrels, compared with analysts’ expectations in a Reuters poll for a 9.3 million-barrel rise.
Crude stocks at the Cushing, Oklahoma, delivery hub rose by 6.4 million barrels in the last week, EIA said, the most in one week ever.
Refinery crude runs fell by 1.3 million barrels per day in the last week, EIA said. Refinery utilization rates fell by 6.7 percentage points, in the week
U.S. gasoline stocks rose by 10.5 million barrels in the week to 257.3 million barrels, the EIA said, compared with analysts’ expectations in a Reuters poll for a 4.3 million-barrel rise.
Distillate stockpiles, which include diesel and heating oil, rose by 476,000 barrels in the week, versus expectations for a 1.4 million-barrel rise, the EIA data showed.
Net U.S. crude imports rose last week by 149,000 barrels per day in the last week, EIA said.
Reporting By David Gaffen
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