U.S. Crude Oil Stocks Fall One Million Barrels in Latest Week: API

April 17, 2018

NEW YORK, (Reuters) – U.S. crude, gasoline and distillate inventories fell last week, as imports dropped, industry group the American Petroleum Institute said on Tuesday.

Crude inventories fell by 1 million barrels in the week to April 13 to 428 million, compared with analysts’ expectations for a decrease of 1.4 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1 million barrels, API said.

Refinery crude runs fell by 35,000 barrels per day, API data showed.

Gasoline stocks fell by 2.5 million barrels, compared with analysts’ expectations in a Reuters poll for a 227,000-barrel decline.

Distillate fuels stockpiles, which include diesel and heating oil, fell by 854,000 barrels, compared with expectations for a 268,000-barrel drop, the API data showed.

U.S. crude imports fell last week by 644,000 barrels per day to 7.9 million bpd.

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