U.S. crude stockpiles fall more than expected

Kitco Media
By Reuters
Published:
Updated:
Reuters
By Arathy Somasekhar HOUSTON, April 5 (Reuters) - U.S. crude stocks, gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday. Crude inventories fell by 3.7 million barrels in the last week to 470 million barrels, compared with analysts' expectations in a Reuters poll for a 2.3 million-barrel drop. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 970,000 barrels in the week to March 31, EIA said. Refinery crude runs fell by 198,000 barrels per day in the last week, EIA said. Refinery utilization rates fell by 0.7 percentage points in the week U.S. gasoline stocks fell by 4.1 million barrels in the week to 222.6 million barrels, the EIA said, compared with analysts' expectations in a Reuters poll for a 1.7 million-barrel drop.? Distillate stockpiles , which include diesel and heating oil, fell by 3.6 million barrels in the week to 113.1 million barrels, versus expectations for a 0.4 million-barrel drop, the EIA data showed. Net U.S. crude imports rose by 1.16 million barrels per day, EIA said. (Reporting by Arathy Somasekhar in Houston)

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