(Reuters) - Crude oil stockpiles rose last week as crude imports increased and petroleum product stocks also rose as refineries boosted their processing rates, government data showed on Wednesday.
Domestic stocks of crude, excluding oil held in the Strategic Petroleum Reserve, rose unexpectedly by 2.72 million barrels to 380.11 million barrels in the week to July 20, the Energy Information Administration reported. Analysts polled by Reuters had forecast a drop of 700,000 barrels.
Gasoline inventories rose 4.13 million barrels to 210.04 million barrels, compared with analyst expectations for a 600,000-barrel fall.
Distillates, which include diesel and heating oil, rose 1.71 million barrels to 125.24 million barrels, above a forecast gain of 1.1 million barrels.
The rise in crude stocks came as U.S. crude imports rose 695,000 barrels per day to 9.59 million bpd.
Refinery utilization rose 1 percentage point to 93 percent of capacity. Analysts had expected a decline of 0.2 percentage point.
Domestic demand for all refined products rose 1 percent from year-ago figures on a four-week average basis. U.S. gasoline demand was down 3.2 percent from year-ago levels, EIA figures showed.
U.S. crude oil futures fell after the data. By 10:35 a.m. EST (1335 GMT), they were down 85 cents at $87.65 per barrel.
Stocks at the Cushing, Oklahoma delivery point for U.S. oil futures rose 203,000 barrels to 46.49 million barrels.
Reporting by Joshua Schneyer; Editing by John Picinich