Thursday, May 25, 2017

US Crude Stocks Down, But Gasoline Inventories Rise

Posted by April 19, 2017

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U.S. crude stocks fell last week as refineries hiked output, while gasoline stocks increased and distillate inventories fell, the Energy Information Administration said on Wednesday.

Crude inventories fell by 1 million barrels in the week to April 14, compared with analysts' expectations for an decrease of 1.5 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 778,000 barrels, EIA said.

Refinery crude runs rose by 241,000 barrels per day, EIA data showed. Refinery utilization rates rose by 1.9 percentage points.

Gasoline stocks rose by 1.5 million barrels, compared with expectations in a Reuters poll for a 1.9 million-barrel drop.

Distillate stockpiles, which include diesel and heating oil, fell by 2 million barrels, versus expectations for a 1 million-barrel drop, the EIA data showed.

U.S. crude imports rose last week by 56,000 barrels per day.

(Reporting By David Gaffen)

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