Oil

US crude stockpiles rise, gasoline and distillate inventories fall - EIA

Credit: REUTERS/LUCY NICHOLSON

Feb 28 (Reuters) - U.S. crude oil stockpiles rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday.

Crude inventories rose by 4.2 million barrels to 447.2 million barrels in the week ending Feb. 23, the EIA said, compared with analysts' expectations in a Reuters poll for a 2.7 million-barrel rise.

Crude stocks at the Cushing, Oklahoma, delivery hub USOICC=ECI rose by 1.5 million barrels last week to 29.5 million, the EIA said.

Gasoline stocks USOILG=ECI fell by 2.8 million barrels in the week to 244.2 million barrels, the EIA said, compared with forecasts for a 1.5 million-barrel draw.​

Distillate stockpiles USOILD=ECI, which include diesel and heating oil, were down by 510,000 barrels in the week to 121.1 million barrels, versus expectations for a 2.1 million-barrel drop, the data showed.

(Reporting by Laura Sanicola Editing by Marguerita Choy)

((Laura.Sanicola@thomsonreuters.com;))

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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