U.S. crude stocks fall, gasoline and distillate inventories rise
U.S. crude stocks fell while gasoline and distillate inventories rose in the week ending July 12, the U.S. Energy Information Administration (EIA) said on Wednesday.
Crude inventories fell by 4.9 MMbbl to 440.2 MMbbl, the EIA said, compared with analysts' expectations in a Reuters poll for a 33,000-bbl draw.
Crude stocks at the Cushing, Oklahoma, delivery hub fell by 875,000 bbl last week, the EIA said.
Refinery crude runs fell by 181,000 bpd in the week ended July 12, the EIA said. Refinery utilization rates fell by 1.7% in the week.
U.S. gasoline stocks rose by 3.3 MMbbl in the week to 233 MMbbl, the EIA said, compared with analysts' expectations in a Reuters poll for a 1.6-MMbbl draw.
Distillate stockpiles, which include diesel and heating oil, rose by 3.5 MMbbl in the week to 128.1 MMbbl, vs. expectations for a 800,000-bbl drop, the EIA data showed.
Net U.S. crude imports rose last week by 312,000 bpd, the EIA said.
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