U.S. crude stocks fell less than expected last week, while gasoline stocks increased and distillate inventories declined, data from the Energy Information Administration showed on Wednesday.
Crude inventories fell by 847,000 barrels in the last week, compared with analysts’ expectations for a 2.4-million-barrel draw.
Crude stocks at the Cushing, Oklahoma, delivery hub rose by 2.92 million barrels, EIA said.
Refinery crude runs fell by 326,000 barrels per day, EIA data showed. Refinery utilization rates fell by 1.9 percentage points.
Gasoline stocks rose by 5.3 million barrels, compared with analysts’ expectations in a Reuters poll for a 1.8-million-barrel increase.
Distillate stockpiles, which include diesel and heating oil, fell by 207,000 barrels, versus expectations for a 340,000-barrel increase, the EIA data showed.
U.S. crude imports fell last week by 564,000 barrels per day.