News wire — U.S. crude stocks rose last week as refineries hiked output, while gasoline stocks decreased and distillate inventories rose, the Energy Information Administration said on Friday.
Crude inventories rose by 4.4 million barrels in the week to Jan. 15, compared with analysts’ expectations for a decrease of 1.2 million barrels.
Crude stocks at the Cushing, Oklahoma, delivery hub fell by 4.7 million barrels, EIA said.
Refinery crude runs rose by 110,000 barrels per day, EIA data showed. Refinery utilization rates rose by 0.5 percentage points.
Gasoline stocks fell by 260,000 barrels, compared with analysts’ expectations in a Reuters poll for a 2.8 million-barrel gain.
Distillate stockpiles, which include diesel and heating oil, rose by 458,000 barrels, versus expectations for a 1.2 million-barrel increase, the EIA data showed.
Net U.S. crude imports rose last week by 566,000 barrels per day.
(Reporting By New York Energy Desk)