Oil

U.S. crude stockpiles slide as imports fall -EIA

Credit: REUTERS/DRONE BASE

U.S. crude oil stockpiles fell last week as imports dropped, while gasoline stocks and distillate inventories also declined, the Energy Information Administration said on Wednesday.

NEW YORK, July 28 (Reuters) - U.S. crude oil stockpiles fell last week as imports dropped, while gasoline stocks and distillate inventories also declined, the Energy Information Administration said on Wednesday.

Crude inventories USOILC=ECI fell by 4.1 million barrels in the week to July 23, more than analysts' expectations in a Reuters poll for a decrease of 2.9 million barrels.

Stocks at the Cushing, Oklahoma, delivery hub for U.S. crude futures USOICC=ECI fell by 1.268 million barrels, EIA said.

Net U.S. crude imports USOICI=ECI fell last week by 616,000 barrels per day.

Refinery crude runs USOICR=ECI fell by 132,000 bpd, and refinery utilization rates USOIRU=ECI slipped 0.3 percentage point, EIA data showed.

Gasoline stocks USOILG=ECI fell by 2.3 million barrels, more than double forecasts for a 916,000-barrel drop.

Distillate stockpiles USOILD=ECI, which include diesel and heating oil, dropped by 3.1 million barrels, data showed, also exceeding expectations for a 435,000-barrel drop.

(Reporting by Devika Krishna Kumar in New York Editing by Marguerita Choy)

((devika.kumar@thomsonreuters.com; +1 646 223 6059; Reuters Messaging: devika.kumar.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

    Reuters

    Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

    Learn More