Monday, May 22, 2017

U.S. Inventories of Oil, Gasoline Fall in Latest Week - EIA

Posted by May 17, 2017

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

Crude inventories fell by 1.8 million barrels for the week to May 12, compared with analysts' expectations for an decrease of 2.4 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 35,000 barrels, EIA said.

Refinery crude runs rose by 363,000 barrels per day, EIA data showed. Refinery utilization rates rose by 1.9 percentage points.

Gasoline stocks fell by 413,000 barrels, compared with analysts' expectations in a Reuters poll for a 731,000 barrels drop.

Distillate stockpiles, which include diesel and heating oil, fell by 1.9 million barrels, versus expectations for a 1.1 million barrels drop, the EIA data showed.

U.S. crude imports rose last week by 577,000 barrels per day.
 
(Reporting By David Gaffen)

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