U.S. crude stocks post surprise drop as refiners ramp up processing
(Reuters) - Crude inventories fell by 1.5 MM barrels to 447 MM barrels last week, the EIA said, compared with analysts' expectations in a poll for a 1.3 MM-barrel rise.
Crude stocks at the Cushing, Oklahoma, delivery hub USOICC=ECI fell by 220,000 barrels in the week ended March 8, the EIA said.
Refinery crude runs USOICR=ECI rose by 390,000 barrels per day in the week ended March 8, the EIA said.
Refinery utilization rates USOIRU=ECI rose by 1.9 percentage points in the week.
U.S. gasoline stocks USOILG=ECI fell by 5.7 million barrels in the week to 234.1 million barrels, the EIA said, compared with analysts' expectations in a Reuters poll for a 1.9 million-barrel draw.
Distillate stockpiles USOILD=ECI, which include diesel and heating oil, rose by 888,000 barrels in the week to 117.9 million barrels, versus expectations for a 150,000-barrel drop, the EIA data showed.
Net U.S. crude imports USOICI=ECI fell last week by 241,000 barrels per day, EIA said.
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