U.S. Crude and Distillate Stocks Fall, Gasoline Inventories Rise, EIA says

Crude inventories fell by 4.2 million barrels to 416.8 million barrels in the week ended Dec. 20, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.9 million-barrel draw.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 320,000 barrels in the week, the EIA said.

Refinery crude runs rose by 205,000 barrels per day, while refinery utilization rates rose by 0.7 percentage points to 92.5% in the week, EIA said.

U.S. gasoline stocks rose by 1.6 million barrels in the week to 223.7 million barrels, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.1 million-barrel draw.

Distillate stockpiles, which include diesel and heating oil, fell by 1.7 million barrels in the week to 116.5 million barrels, versus expectations for a 313,000-barrel drop, the EIA data showed.

Net U.S. crude imports rose last week by 995,000 barrels per day, EIA said.