News Wires — U.S. crude stocks rose last week as imports increased, while gasoline and distillate inventories fell, the Energy Information Administration said on Wednesday.
Crude inventories rose by 5.5 million barrels in the week to April 19, compared with analysts’ expectations for an increase of 1.3 million barrels.
Net U.S. crude imports rose last week by 877,000 barrels per day.
Refinery crude runs rose by 505,000 barrels per day, EIA data showed. Refinery utilization rates rose by 2.4 percentage points.
Gasoline stocks fell by 2.1 million barrels, compared with analysts’ expectations in a Reuters poll for a 1 million-barrel drop.
Distillate stockpiles, which include diesel and heating oil, fell by 662,000 barrels, versus expectations for a 1.2 million-barrel drop, the EIA data showed.
Crude stocks at the Cushing, Oklahoma, delivery hub rose by 463,000 barrels, EIA said.