EIA report: U.S. oil inventories up unexpectedly
Petroleumworld 04 26 2018
U.S. crude stocks rose last week as refineries cut output, while gasoline stocks increased and distillate inventories fell, the Energy Information Administration said on Wednesday.
Crude inventories rose by 2.2 million barrels in the week to April 20, compared with expectations for a decrease of 2 million barrels.
Crude stocks at the Cushing, Oklahoma, delivery hub rose by 459,000 barrels, EIA said.
Refinery crude runs fell by 328,000 barrels per day, EIA data showed. Refinery utilization rates fell by 1.6 percentage points.
Gasoline stocks rose by 840,000 barrels, compared with expectations in a Reuters poll for a 625,000-barrel drop.
Distillate stockpiles, which include diesel and heating oil, fell by 2.6 million barrels, versus expectations for a 861,000-barrel drop, the EIA data showed.
Net U.S. crude imports fell last week by 43,000 barrels per day.
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Reporting by David Gaffen from Reuters.
reuters.com/ 04 25 2018
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