U.S. crude stocks fell last week, while gasoline and distillate inventories rose: EIA

U.S. crude stocks fell while gasoline and distillate inventories rose last week, the Energy Information Administration said on Thursday.

Crude inventories fell by 4.2 million barrels to 454.7 million barrels in the week ending May 24, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.9 million-barrel draw.Brent and U.S. oil futures extended losses after the report, trading down 0.5 per cent on the day Refinery crude runs rose by 601,000 barrels per day, the EIA said.U.S. gasoline stocks rose by 2 million barrels in the week to 228.

Distillate stockpiles, which include diesel and heating oil, rose by 2.5 million barrels in the week to 119.3 million barrels, versus expectations for a 0.1 million-barrel drop, the EIA data showed. U.S. gasoline futures were down 0.9 per cent, dropping to the lowest point since February, after the report showed a surprise build.

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