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U.S. crude stockpiles fall in latest week – EIA

July 17, 2019 Reuters

U.S. crude stockpiles fell more than expected last week, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday.

Crude inventories fell by 3.1 million barrels in the last week, compared with analysts’ expectations for a decrease of 2.7 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.35 million barrels, EIA said.

Refinery crude runs fell by 171,000 barrels per day, EIA data showed. Refinery utilization rates fell by 0.3 percentage points.

Gasoline stocks rose by 3.6 million barrels, compared with analysts’ expectations in a Reuters poll for a 925,000-barrel drop.

Distillate stockpiles , which include diesel and heating oil, rose by 5.7 million barrels, versus expectations for a 613,000-barrel increase, the EIA data showed.

Net U.S. crude imports rose last week by 44,000 bpd.

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