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US crude, gasoline inventories rise, distillates draw down, EIA

Thursday, 24 October 2024 | 00:00

U.S. crude oiland gasoline inventories rose while distillate inventories fell last week, the Energy Information Administration (EIA) said on Wednesday.

Crude inventories rose by 5.5 million barrels to 426 million barrels in the week ending Oct. 18, the EIA said, compared with analysts’ expectations in a Reuters poll for a 270,000-barrel rise.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 346,000 barrels, the EIA said.

U.S. crude CLc1 and Brent futures extended losses after the data.

Refinery crude runs rose by 329,000 barrels per day in the week, the EIA said.

Refinery utilization rates increased by 1.8 percentage points to 89.5%.

Gasoline stocks rose by 900,000 barrels in the week to 213.6 million barrels, the EIA said, compared with expectations for a 1.2 million-barrel draw.

U.S. gasoline futures extended losses following the data. ​

Distillate stockpiles, which include diesel and heating oil, fell by 1.1 million barrels in the week to 113.8 million barrels, versus expectations for a 1.7 million-barrel drop, the EIA data showed.

U.S. heating oil futures extended losses, despite the smaller-than-expected weekly draw.

Net U.S. crude imports rose last week by 913,000 barrels per day, the EIAsaid.
Source: Reuters (Reporting by Georgina McCartney in Houston, Editing by Marguerita Choy)

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