US Crude Stocks Rise, Gasoline and Distillate Inventories Fall – EIA

(Reuters) – U.S. crude stocks rose while gasoline and distillate inventories fell in the week ending February 28, the Energy Information Administration said on Wednesday.

Crude inventories rose by 3.6 million barrels to 433.8 million barrels in the week, the EIA said, compared with analysts’ expectations in a Reuters poll for a 341,000-barrel rise.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.1 million barrels in the week, the EIA said.

Refinery crude runs fell by 346,000 barrels per day in the week, the EIA said.

Refinery utilization rates fell by 0.6 percentage points in the week.

U.S. gasoline stocks fell by 1.4 million barrels in the week to 246.8 million barrels, the EIA said, compared with analysts’ expectations in a Reuters poll for a 369,000-barrel draw.​

Distillate stockpiles, which include diesel and heating oil, fell by 1.3 million barrels in the week to 119.2 million barrels, versus expectations for a 220,000-barrel rise, the EIA data showed.

Net U.S. crude imports fell last week by 54,000 barrels per day, EIA said.

Reporting by Stephanie Kelly

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