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U.S. Crude Stockpiles Fall More Than Expected - EIA

By  AOG Staff Wednesday, 16 January 2019 04:58
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U.S. crude oil stocks fell more than expected last week, while gasoline and distillate inventories rose more than forecasts, the Energy Information Administration said on Wednesday.

Crude inventories fell by 2.7 million barrels in week to Jan. 11, compared with analysts' expectations for a decrease of 1.3 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 743,000 barrels, EIA said.

Refinery crude runs fell by 343,000 barrels per day, EIA data showed. Refinery utilization rates fell by 1.5 percentage points.

Gasoline stocks rose by 7.5 million barrels, compared with analysts' expectations in a Reuters poll for a 2.8 million-barrel gain.

Distillate stockpiles, which include diesel and heating oil, rose by 3.0 million barrels, versus expectations for a 1.6 million-barrel increase, the EIA data showed.

Net U.S. crude imports fell last week by 1.22 million bpd. 

(Reuters, Energy Desk)

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