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

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U.S. crude inventories fell by 6.9 million barrels to 418.3 million barrels in the week, the EIA said

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

Crude inventories fell by 6.9 million barrels to 418.3 million barrels in the week ending Aug. 30, the EIA said, compared with analysts’ expectations in a Reuters poll for a 993,000-barrel draw. U.S. crude oil futures and Brent crude futures extended gains following the report, rising 2 per cent and 1.6 per cent respectively.

Crude stocks at the Cushing, Oklahoma, delivery hub for U.S. futures fell by 1.1 million barrels, the EIA said. Refinery crude runs rose by 36,000 barrels per day in the week, while refinery utilization rates were unchanged at 93.3 per cent of total capacity Gasoline stocks rose by 800,000 barrels in the week to 219.2 million barrels, the EIA said, compared with expectations for a 700,000-barrel draw.Distillate stockpiles, which include diesel and heating oil, fell by 400,000 barrels in the week to 122.7 million barrels, versus expectations for a 500,000-barrel rise, the EIA data showed.Net U.S.

 

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