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U.S. crude, fuel stocks fell last week -EIA -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – This aerial photo shows the Bryan Mound Strategic Petroleum Reserve (an oil storage facility), in Freeport, Texas on April 27, 2020. REUTERS/Adrees Latif

NEW YORK (Reuters] – Stocks, gasoline and distillate inventories dropped last week, according to Wednesday’s report by the Energy Information Administration.

    Crude inventories fell by 3.6 million barrels in the last week to 420 million barrels, compared with analysts’ expectations in a Reuters poll for a 3.1 million-barrel drop.

    Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.1 million barrels in the last week, the EIA said.

    Refinery crude runs fell by 115,000 barrels per day, while refinery utilization rates rose by 0.1 percentage points, it said.

    U.S. gasoline stocks fell by 1.5 million barrels in the week to 222.66 million barrels, compared with analysts’ expectations in a Reuters poll for a 0.5 million-barrel rise.​

    Distillate stockpiles, which include diesel and , fell by 1.7 million barrels in the week to 122.43 million barrels, versus expectations for a 0.2 million-barrel rise, the EIA data showed.

    Net U.S. crude imports rose last week by 515,000 barrels per day, the EIA said.

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