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

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

Crude inventories rose by 4 million barrels in the last week to 420.6 million barrels, compared with analysts’ expectations in a Reuters poll for a 1.9 million-barrel drop. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 2.4 million barrels in the week to Sept 8, EIA said.Refinery utilization rates rose by 0.6 percentage points in the week.

U.S. gasoline stocks rose by 5.6 million barrels in the week to 220.3 million barrels, the EIA said, compared with analysts’ expectations in a Reuters poll for a 0.2 million-barrel rise. Distillate stockpiles, which include diesel and heating oil, rose by 3.9 million barrels in the week to 122.5 million barrels, versus expectations for a 1.3 million-barrel rise, the EIA data showed.

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Oil prices stable as market awaits data on inventories, economyBrent crude futures hovered just above $90 a barrel on Tuesday, as investors awaited a slew of macroeconomic data due later this week that could indicate whether Europe and the U.S. continue to hike interest rates. The international benchmark Brent contract dipped 6 cents to $90.58 a barrel at 0003 GMT, while U.S. West Texas Intermediate crude futures edged 2 cents lower to $87.27.
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