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U.S. crude, fuel stocks decline

by Mike Robinson

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© Reuters. FILE PHOTO A maze of crude-oil pipes and valves was viewed during an inspection by the Department of Energy, Strategic Petroleum Reserve, Freeport, Texas. U.S.A, June 9, 2016. REUTERS/Richard Carson

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

    Crude inventories fell by 2.6 million barrels in the week to February 25 to 413.4 million barrels, compared with analysts’ expectations in a Reuters poll for a 2.7 million-barrel rise.

    Crude stocks at the Cushing, Oklahoma, delivery hub fell by 972,000 barrels in the last week, EIA said.

    Refinery crude runs rose by 152,000 barrels per day in the last week, EIA said.

    Refinery utilization rates rose by 0.3 percentage points in the week.

    U.S. gasoline stocks fell by 468,000 barrels in the week to 246 million barrels, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.4 million-barrel drop.​

    Distillate stockpiles, which include diesel and , fell by 573,000 barrels in the week to 119 million barrels, versus expectations for a 1.7 million-barrel drop, the EIA data showed.

    Net U.S. crude imports fell by 2.2 million barrels per day, EIA said.

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