U.S. crude, gasoline inventories rise, distillates draw down
U.S. crude oil and gasoline inventories rose while distillate inventories fell last week, the U.S. Energy Information Administration (EIA) said on Wednesday.
Crude inventories rose by 5.5 MMbbl to 426 MMbbl in the week ending Oct. 18, the EIA said, compared with analysts' expectations in a Reuters poll for a 270,000-bbl rise.
Crude stocks at the Cushing, Oklahoma, delivery hub fell by 346,000 bbl, the EIA said.
U.S. crude and Brent futures extended losses after the data.
Refinery crude runs rose by 329,000 bpd in the week, the EIA said.
Refinery utilization rates increased by 1.8% to 89.5%.
Gasoline stocks rose by 900,000 bbl in the week to 213.6 MMbbl, the EIA said, compared with expectations for a 1.2-MMbbl draw.
U.S. gasoline futures extended losses following the data.
Distillate stockpiles, which include diesel and heating oil, fell by 1.1 MMbbl in the week to 113.8 MMbbl, versus expectations for a 1.7-MMbbl drop, the EIA data showed.
U.S. heating oil futures extended losses, despite the smaller-than-expected weekly draw.
Net U.S. crude imports rose last week by 913,000 bpd, the EIA said.
Comments