off-the-wire

U.S. crude stockpiles fall more than expected -EIA

Kitco Media
By Reuters
Published:
Updated:
Reuters

April 19 (Reuters) - U.S. crude oil and distillate inventories fell last week while gasoline inventories rose unexpectedly, the Energy Information Administration said on Wednesday.

Crude inventories (USOILC=ECI) fell by 4.6 million barrels in the week to April 7 to 466 million barrels, more than quadruple analysts' expectations in a Reuters poll for a 1.1 million-barrel drop.

Crude stocks at the Cushing, Oklahoma, delivery hub (USOICC=ECI) fell by 1.1 million barrels last week, the EIA said.

Refinery crude runs (USOICR=ECI) rose by 259,000 barrels per day, and refinery utilization rates (USOIRU=ECI) rose by 1.7 percentage points to 91% of total capacity.

U.S. gasoline stocks (USOILG=ECI) rose by 1.3 million barrels in the week to 223.5 million barrels, the EIA said, compared with analysts' forecasts for a 1.3 million-barrel drop.?

Distillate stockpiles (USOILD=ECI), which include diesel and heating oil, fell by 400,000 barrels in the week to 112.1 million barrels, versus expectations for a 900,000-barrel drop, the EIA data showed.

Net U.S. crude imports (USOICI=ECI) fell by 1.74 million bpd, EIA said.

Reporting by Laura Sanicola Editing by Marguerita Choy
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