U.S. crude stockpiles rose less than expected last week: EIA

A sign built out of a pipeline that reads
FILE PHOTO – A sign built out of a pipeline that reads “pipeline crossroads of the world” welcomes visitors to town in Cushing, Oklahoma, March 24, 2016. REUTERS/Nick Oxford

January 30, 2019

NEW YORK (Reuters) – U.S. crude stockpiles rose less than expected last week, while gasoline and distillate inventories fell, the Energy Information Administration said on Wednesday.

Crude inventories rose by 919,000 barrels in the last week, compared with analysts’ expectations for an increase of 3.2 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 145,000 barrels, EIA said.

Refinery crude runs fell by 586,000 barrels per day, EIA data showed. Refinery utilization rates fell by 2.8 percentage points.

Gasoline stocks fell by 2.2 million barrels, compared with analysts’ expectations in a Reuters poll for a 1.9 million-barrel gain.

Distillate stockpiles, which include diesel and heating oil, fell by 1.1 million barrels, versus expectations for a 1.4 million-barrel drop, the EIA data showed.

Net U.S. crude imports fell last week by 1 million barrels per day.

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