Wednesday, December 13, 2017

Oil Stocks Dip, but Gasoline Inventories Rise

Posted by June 14, 2017

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

Crude inventories fell by 1.7 million barrels in the week to June 9, compared with analysts' expectations for an decrease of 2.7 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.2 million barrels, EIA said.

Refinery crude runs rose by 29,000 barrels per day, EIA data showed. Refinery utilization rates rose by 0.3 percentage points.

Gasoline stocks rose by 2.1 million barrels, compared with analysts' expectations in a Reuters poll for a 457,000 barrels drop.

Distillate stockpiles, which include diesel and heating oil, rose by 328,000 barrels, versus expectations for a 686,000 barrels increase, the EIA data showed.
U.S. crude imports fell last week by 481,000 barrels per day.

(Reporting By David Gaffen)

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