EIA: U.S. crude stocks, gasoline and distillate inventories rise
U.S. crude stocks, gasoline and distillate inventories rose last week, the Energy Information Administration (EIA) said on Wednesday.
Crude inventories rose by 3.9 MMbbl to 424.6 MMbbl in the week ended September 5, the EIA said, compared with analysts' expectations in a poll for a draw of 1 MMbbl.
Crude stocks at the Cushing, Oklahoma, delivery hub fell by 365,000 bbl in the week, the EIA said. Oil futures pared some earlier gains following the surprise build in inventories. Global Brent crude futures were trading at $66.95 a barrel, up $0.56 at 10:37 a.m. EDT (1437 GMT), while U.S. West Texas Intermediate (WTI) futures were trading at $63.24 a barrel, up $0.61.
Refinery crude runs fell by 51,000 bpd, the EIA said, while utilization rates rose by 0.6% to 94.9%.
U.S. gasoline stocks rose by 1.5 MMbbl in the week to 220 MMbbl, the EIA said, compared with analysts' expectations in a Reuters poll for a 0.2-MMbbl draw.
Distillate stockpiles, which include diesel and heating oil, rose by 4.7 MMbbl in the week to 120.6 MMbbl, versus expectations for a 35,000-bbl rise, the EIA data showed.
Net U.S. crude imports rose last week by 668,000 bpd, the EIA said.
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