US crude inventories rise unexpectedly, fuel stocks fall - EIA

Kitco Media
By Reuters
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Reuters
NEW YORK, March 22 (Reuters) - U.S. crude stocks rose unexpectedly last week while gasoline and distillate inventories fell, the Energy Information Administration said on Wednesday. Crude inventories rose by 1.1 million barrels in the week to March 17 to 481.2 million barrels, compared with analysts' expectations in a Reuters poll for a 1.6 million-barrel drop. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.1 million barrels last week, the EIA said. Refinery crude runs fell by 22,000 barrels per day (bpd) and refinery utilization rates rose by 0.4 percentage point in the week. Gasoline stocks fell by 6.4 million barrels to 229.6 million barrels, the EIA said, compared with analysts' expectations for a 1.7 million-barrel drop.? Distillate stockpiles , which include diesel and heating oil, fell by 3.3 million barrels in the week to 116.4 million barrels, versus expectations for a 1.5 million-barrel drop, the data showed. Net U.S. crude imports rose last week by 51,000 bpd, the EIA said. (Reporting by Stephanie Kelly Editing by Marguerita Choy)

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