Oil

U.S. crude stocks up more than expected, Cushing hub plunges - EIA

Credit: REUTERS/DANE RHYS

U.S. crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday.

Oct 27 (Reuters) - U.S. crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday.

Crude inventories USOILC=ECI rose by 4.3 million barrels in the week to October 22 to 430.8 million barrels, compared with analysts' expectations in a Reuters poll for a 1.9 million-barrel rise.

Crude stocks at the Cushing, Oklahoma, delivery hub USOICC=ECI fell by 3.9 million barrels in the last week, EIA said.

Refinery crude runs USOICR=ECI rose by 58,000 barrels per day in the last week, EIA said. Refinery utilization rates USOIRU=ECI rose by 0.4 percentage points, in the week.

U.S. gasoline stocks USOILG=ECI fell by 2 million barrels in the week to 215.8 million barrels, the EIA said, compared with analysts' expectations in a Reuters poll for a 1.9 million-barrel drop.​

Distillate stockpiles USOILD=ECI, which include diesel and heating oil, fell by 432,000 barrels in the week to 125 million barrels, versus expectations for a 2.3 million-barrel drop, the EIA data showed.

Net U.S. crude imports USOICI=ECI rose last week by 702,000 barrels per day, EIA said.

(Reporting By David Gaffen)

((david.gaffen@thomsonreuters.com; +1-646-223-6064; Reuters Messaging: david.gaffen.reuters.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.

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