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

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U.S. crude inventories rose by 833,000 barrels to 419.1 million barrels in the week ending Sept. 6

U.S. crude oil, gasoline and distillate inventories rose last week, the Energy Information Administration said on Wednesday.

Crude inventories rose by 833,000 barrels to 419.1 million barrels in the week ending Sept. 6, the EIA said, compared with analysts’ expectations in a Reuters poll for a 987,000-barrel rise.Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.7 million barrels in the week. Crude futures pared gains after the data. Brent crude oil futures was up by just 0.1 per cent and U.S. oil futures gained 0.4 per cent.

Refinery crude runs fell by 141,000 barrels per day, and refinery utilization rates fell by 0.5 percentage point to 92.8 per cent of total capacity. Gasoline stocks rose by 2.3 million barrels in the week to 221.6 million barrels, the EIA said, compared with forecasts for a 100,000-barrel draw.Distillate stockpiles, which include diesel and heating oil, rose by 2.3 million barrels in the week to 125 million barrels, versus expectations for a 300,000-barrel rise, the EIA data showed.

 

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