06 March 2019, News Wires — U.S. crude stockpiles rose last week, while gasoline and distillate inventories fell, the Energy Information Administration said on Wednesday.
Crude inventories rose by 7.1 million barrels in the week to March 1, compared with analysts’ expectations for an increase of 1.2 million barrels.
Crude stocks at the Cushing, Oklahoma, delivery hub rose by 873,000 barrels, EIA said.
Refinery crude runs rose by 100,000 barrels per day, EIA data showed. Refinery utilization rates rose by 0.4 percentage points.
Gasoline stocks fell by 4.2 million barrels, compared with analysts’ expectations in a Reuters poll for a 2.1 million-barrel drop.
Distillate stockpiles, which include diesel and heating oil, fell by 2.4 million barrels, versus expectations for a 1.4 million-barrel drop, the EIA data showed.
Net U.S. crude imports rose last week by 1.6 million barrels per day.