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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 2.1 million barrels to 427.7 million barrels in the week ending Nov. 1

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

Crude inventories rose by 2.1 million barrels to 427.7 million barrels in the week ending Nov. 1, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.1 million-barrel rise.U.S. oil prices were up following the report. Brent crude futures were trading around $75.66 a barrel, up 13 cents by 10:45 a.m. EST . West Texas Intermediate crude rose about 40 cents to $72.37 a barrel.Refinery utilization rates rose by 1.4 per cent percentage points to 90.

Gasoline stocks rose by 412,000 barrels in the week to 211.3 million barrels, the EIA said, compared with analysts’ expectations for a 878,000-barrel draw. Distillate stockpiles, which include diesel and heating oil, rose by 2.9 million barrels in the week to 115.8 million barrels, versus expectations for a 1.1 million-barrel drop, the EIA data showed.

 

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