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

Crude inventories rose by 4.1 million barrels to 427.9 million barrels in the week ended February 7, the EIA said, compared with analysts’ expectations in a Reuters poll for a 3 million-barrel rise.

Crude stocks at the Cushing, Oklahoma, delivery hub (USOICC=ECI) rose by 872,000 barrels last week, the EIA said.

U.S. and global crude futures gave up some earlier losses following the report. Brent futures were trading at $75.97 a barrel, down $1.32 at 10:41 a.m. EST (1541 GMT), while U.S. West Texas Intermediate (WTI) futures were trading at $72.26 a barrel, down $1.06 at that same time.

Refinery crude runs (USOICR=ECI) rose by 82,000 barrels per day while utilization rates (USOIRU=ECI) rose by 0.5 percentage points in the week to 85%, the EIA said.

U.S. gasoline stocks (USOILG=ECI) fell by 3 million barrels in the week to 248.1 million barrels, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.4 million-barrel build.​

Distillate stockpiles (USOILD=ECI), which include diesel and heating oil, rose by 135,000 barrels in the week to 118.6 million barrels, versus expectations for a 1.5 million-barrel drop, the EIA data showed.

Net U.S. crude imports (USOICI=ECI) fell last week by 184,000 barrels per day, EIA said.
Source: Reuters