U.S. Crude Stocks Rise, Gasoline, Diesel Stocks Down - EIA

Posted by Michelle Howard
Wednesday, October 24, 2018

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

Crude inventories rose by 6.3 million barrels in the week to Oct. 19, compared with analyst expectations for an increase of 3.7 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.4 million barrels, EIA said.

Refinery crude runs fell by 48,000 barrels per day, EIA data showed. Refinery utilization rates rose by 0.4 percentage points.

Gasoline stocks fell by 4.8 million barrels, compared with analysts' expectations in a Reuters poll for a 1.9 million-barrel drop.

Distillate stockpiles, which include diesel and heating oil, fell by 2.3 million barrels, versus expectations for a 1.9 million-barrel drop, the EIA data showed.

Net U.S. crude imports fell last week by 335,000 barrels per day. 

Reporting By David Gaffen

Categories: Shale Oil & Gas Government

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