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U.S. Crude Stockpiles Unexpectedly Rise - EIA

By  AOG Staff Wednesday, 07 August 2019 05:55
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U.S. crude stocks rose last week, while gasoline and distillate inventories also rose, the Energy Information Administration said on Wednesday.

© RobertCoy / Adobe Stock
© RobertCoy / Adobe Stock

Crude inventories rose by 2.4 million barrels in the last week, compared with analysts' expectations for a decrease of 2.8 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.50 million barrels, EIA said.

Refinery crude runs rose by 786,000 barrels per day, EIA data showed. Refinery utilization rates rose by 3.4 percentage points.

Gasoline stocks rose by 4.4 million barrels, compared with analysts' expectations in a Reuters poll for a 722,000-barrel drop.

Distillate stockpiles, which include diesel and heating oil, rose by 1.5 million barrels, versus expectations for a 482,000 barrels increase, the EIA data showed.

Net U.S. crude imports rose last week by 1.194 million barrels per day.

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