U.S. Crude Stocks Drop, Fuel Inventories Up - EIA
U.S. crude stocks fell last week while gasoline stocks increased and distillate inventories rose, the Energy Information Administration said on Wednesday.
Crude inventories fell by 4.9 million barrels in the week to Jan. 5, compared with analysts' expectations for a fall of 3.9 million barrels.
Crude stocks at the Cushing, Oklahoma, delivery hub fell by 2.4 million barrels, EIA said.
Refinery crude runs fell by 285,000 barrels per day, EIA data showed. Refinery utilization rates fell by 1.4 percentage points.
Gasoline stocks rose by 4.1 million barrels, compared with analysts' expectations in a Reuters poll for a 2.6 million-barrel gain.
Distillate stockpiles, which include diesel and heating oil, rose by 4.3 million barrels, versus expectations for a 1.5 million-barrel increase, the EIA data showed.
Net U.S. crude imports rose last week by 152,000 barrels per day.
Reporting By David Gaffen