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U.S. Crude Stocks Rise by 7.2 mln barrels - EIA

By  AOG Staff Wednesday, 03 April 2019 06:18
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U.S. crude stocks rose unexpectedly last week as imports climbed, while gasoline stocks decreased and distillate inventories fell, the Energy Information Administration said on Wednesday.

© marrakeshh / Adobe Stock
© marrakeshh / Adobe Stock

Crude inventories rose by 7.2 million barrels in the last week, compared with analysts' expectations for an decrease of 425,000 barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 201,000 barrels, EIA said.

Refinery crude runs rose by 18,000 barrels per day, EIA data showed. Refinery utilization rates fell by 0.2 percentage points.

Gasoline stocks fell by 1.8 million barrels, compared with analysts' expectations in a Reuters poll for a 1.5 million-barrel drop.

Distillate stockpiles, which include diesel and heating oil, fell by 2 million barrels, versus expectations for a drop of 506,000 barrels, the EIA data showed.

Net U.S. crude imports rose last week by 386,000 barrels per day. 

(Reuters, Reporting by Devika Krishna Kumar in New York)

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