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U.S. Crude Stocks Up by 6 mln Barrels - EIA

By  AOG Staff Thursday, 11 October 2018 06:22
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© Robert Coy / Adobe Stock
© Robert Coy / Adobe Stock

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

Crude inventories rose by 6 million barrels in the week to October 5, compared with analysts' expectations for an increase of 2.6 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 2.4 million barrels, EIA said.

Refinery crude runs fell by 352,000 barrels per day, EIA data showed. Refinery utilization rates fell by 1.6 percentage points.

Gasoline stocks rose by 1 million barrels, compared with analysts' expectations in a Reuters poll for a fall of 42,000 barrels.

Distillate stockpiles, which include diesel and heating oil, fell by 2.7 million barrels, versus expectations for a 2 million-barrel drop, the EIA data showed.

Net U.S. crude imports fell last week by 1.4 million barrels per day.

Reporting By David Gaffen

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