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

Crude inventories rose by 3.5 million barrels to 415.1 million barrels in the week ended Jan. 24, the EIA said, compared with analysts’ expectations in a Reuters poll for a 3.2 million-barrel rise.

Crude stocks at the Cushing, Oklahoma, delivery hub (USOICC=ECI) rose by 326,000 barrels.

Crude oil futures trimmed losses slightly after the data showed total U.S. oil demand rose last week.

Refinery crude runs (USOICR=ECI) fell by 333,000 barrels per day (bpd) in the week, the EIA said.

Refinery utilization rates (USOIRU=ECI) fell by 2.4 percentage points in the week to 83.5%.

U.S. gasoline stocks (USOILG=ECI) rose by 3 million barrels to 248.9 million barrels compared with analysts’ expectations for a 1.3 million-barrel build.​

Distillate stockpiles (USOILD=ECI), which include diesel and heating oil, fell by 5 million to 124 million barrels, versus expectations for a 2.3 million-barrel drop, the EIA data showed.

U.S. diesel futures rose after the report.

Net U.S. crude imports (USOICI=ECI) rose last week by 532,000 bpd, EIA said, to 2.76 million bpd.

Weekly crude exports fell 829,000 barrels per day to 3.69 million bpd.
Source: Reuters