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

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U.S. crude inventories rose by 597,000 barrels in the last week to 470.5 million barrels

U.S. crude stocks rose while gasoline and distillate inventories fell in week to April 7, the Energy Information Administration said on Wednesday.

Crude inventories rose by 597,000 barrels in the last week to 470.5 million barrels, compared with analysts’ expectations in a Reuters poll for a 600,000 barrel drop. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 409,000 barrels in the last week, EIA said.Refinery utilization rates fell by 0.3 percentage points in the week U.S. gasoline stocks fell by 300,000 barrels in the week to 222.2 million barrels, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.6 million-barrel drop.

Distillate stockpiles, which include diesel and heating oil, fell by 0.6 million barrels in the week to 112.4 million barrels, versus expectations for a 800,000 barrel drop, the EIA data showed.

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