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Crude stocks down, though inventories up again in Cushing - EIA
December 14, 2016 / 3:51 PM / in 10 months

Crude stocks down, though inventories up again in Cushing - EIA

Traders gesture at each other while working in the crude oil and natural gas options pit on the floor of the New York Mercantile Exchange March 7, 2011. REUTERS/Lucas Jackson

(Reuters) - U.S. crude stocks fell last week as refineries hiked output, while gasoline stocks increased and distillate inventories fell, the Energy Information Administration said on Wednesday.

Crude inventories fell by 2.6 million barrels in the last week, compared with analyst expectations for an decrease of 1.6 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.2 million barrels, EIA said.

Refinery crude runs rose by 57,000 barrels per day, EIA data showed. Refinery utilization rates rose by 0.1 percentage points.

Gasoline stocks rose by 497,000 barrels, compared with analysts’ expectations in a Reuters poll for a 2.5 million-barrel gain.

Distillate stockpiles, which include diesel and heating oil, fell by 762,000 barrels, versus expectations for a 1 million-barrel increase, the EIA data showed.

U.S. crude imports fell last week by 929,000 barrels per day.

Reporting By David Gaffen

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