January 28, 2020 / 9:35 PM / 2 months ago

U.S. crude stocks drop in latest week -API

Jan 28 (Reuters) - U.S. crude oil stocks fell in the most recent week, while gasoline inventories rose and distillate stocks fell, data from industry group the American Petroleum Institute showed on Tuesday.

Crude inventories fell by 4.3 million barrels in the week to Jan. 24, to 429 million barrels, compared with analysts’ expectations for a build of 482,000 barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1 million barrels, API said.

Refinery crude runs fell by 56,000 barrels per day, API data showed.

Gasoline stocks rose by 3.3 million barrels, compared with analysts’ expectations in a Reuters poll for a 1.3 million-barrel gain.

Distillate fuel inventories, which include diesel and heating oil, fell by 141,000 barrels, compared with expectations for a 1 million-barrel draw, the data showed.

U.S. crude imports fell last week by 564,000 barrels per day, the data showed. (Reporting By New York Energy Desk)

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