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Crude oil, distillate stockpiles fall last week
U.S. crude oil and distillate stockpiles fell in the week to Dec. 20, while gasoline inventories rose, the U.S. Energy Information Administration said on Friday.
The agency said crude stockpiles fell by 4.2 million barrels to 416.8 million during the week, compared with analysts’ expectations in a Reuters poll for a decrease of 1.9 million barrels.
It reported that crude oil stocks at the Cushing, Oklahoma, delivery hub fell by 320,000 barrels.
Brent and U.S. crude extended gains after the U.S. Energy Information Administration reported a larger-than-expected draw in U.S. crude inventories last week.
Refinery runs rose by 205,000 barrels per day in the week to Dec. 20, while refinery utilization rates rose 0.7% on the week to 92.5%.
Gasoline stocks rose by 1.6 million barrels in the week to 223.7 million, the EIA said, compared with expectations for a 1.1 million-barrel draw.
Distillate stocks, which include diesel and heating oil, fell by 1.7 million barrels in the week to 116.5 million barrels, the EIA data showed, compared with expectations for a 313,000-barrel draw.
Net U.S. crude imports rose last week by 995,000 barrels per day, the EIA said.
