U.S. Crude Stocks Up by 6.5 mln barrels - EIA

Posted by Michelle Howard
Wednesday, October 17, 2018

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

Crude inventories rose by 6.5 million barrels in the week to Oct. 12, compared with analysts' expectations for an increase of 2.2 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.8 million barrels, EIA said.

Refinery crude runs rose by 77,000 barrels per day, EIA data showed. Refinery utilization rates remained unchanged.

Gasoline stocks fell by 2 million barrels, compared with analysts' expectations in a Reuters poll for a 1.1 million-barrel drop.

Distillate stockpiles, which include diesel and heating oil, fell by 827,000 barrels, versus expectations for a 1.3 million-barrel drop, the EIA data showed.

Net U.S. crude imports rose last week by 1 million barrels per day.

Reporting By David Gaffen

Categories: Shale Oil & Gas

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