Thursday, August 16, 2018

Crude Stocks Up, Refining Runs Increase, Boosting Fuel Stocks

Posted by February 7, 2018

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

Crude inventories rose by 1.9 million barrels in the week to Feb. 2, compared with analysts' expectations for an increase of 3.2 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 711,000 barrels, EIA said.

Refinery crude runs rose by 784,000 barrels per day, EIA data showed. Refinery utilization rates rose by 4.4 percentage points.

Gasoline stocks rose by 3.4 million barrels, compared with analysts' expectations in a Reuters poll for a 459,000-barrel gain.

Distillate stockpiles, which include diesel and heating oil, rose by 3.9 million barrels, versus expectations for a 1.4 million-barrel drop, the EIA data showed.

Net U.S. crude imports fell last week by 60,000 barrels per day.

Reporting By David Gaffen

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