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U.S. crude stocks up, fuel inventories down

by Mike Robinson

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© Reuters. FILE PHOTO – Crude oil storage containers seen above the Cushing oil hub. They appear to be running out of room to accommodate a historical supply glut which has driven prices soaring, Cushing, Oklahoma. March 24, 2016. REUTERS/Nick Oxford/File photo

(Reuters) – Stocks rose last week while gasoline inventories and distillate inventories dropped, according to the Energy Information Administration on Wednesday.

    Crude inventories rose by 1.1 million barrels in the week to Feb. 11 to 411.5 million barrels, compared with analysts’ expectations in a Reuters poll for a 1.6 million-barrel drop.

    Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.9 million barrels in the last week, EIA said.

    Refinery crude runs fell by 675,000 barrels per day in the last week, EIA said.

    Refinery utilization rates fell by 2.9 percentage points, in the week.

    U.S. gasoline stocks fell by 1.3 million barrels in the week to 247.1 million barrels, the EIA said, compared with analysts’ expectations in a Reuters poll for a 550,000-barrel rise.​

    Distillate stockpiles, which include diesel and , fell by 1.6 million barrels in the week to 120.3 million barrels, versus expectations for a 1.5 million-barrel drop, the EIA data showed.

    Net U.S. crude imports rose last week by 230,000 barrels per day, EIA said.

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