U.S. crude stocks down, distillate inventories edge up: EIA

. Refinery activity fell as maintenance season approaches, though refiners still face a challenge in restocking distillate inventories before the winter.

Distillate stockpiles, which include diesel and heating oil, rose by 111,000 barrels to 111.7 million barrels, versus expectations for a 960,000-barrel drop. “Distillate stocks stopped their slide into the abyss and started building which is what’s needed in the current market environment. But the build is small and will need to be much greater as we head past September,” said Robert Yawger, director of energy futures at Mizuho.

“We saw a snapback in gasoline demand from the week before, but it’s still not as impressive as we’d like to see. It’s a mixed bag on demand but total supplied back above 20 million barrels a day is very supportive,” said Phil Flynn, analyst at Price Futures Group in Chicago.

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