WTI Gives Back Gains-Stockpiles Fall Less Than Expected

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

Distillate stockpiles USOILD=ECI, which include diesel and heating oil, rose by 10.6 million barrels, more than five times the expected 1.9 million-barrel increase, the EIA data showed.

Gasoline stocks USOILG=ECI rose by 8.1 million barrels, compared with analysts’ expectations in a Reuters poll for a 3.4 million-barrel gain.

Crude inventories USOILC=ECI fell by 1.7 million barrels in the last week, compared with analysts’ expectations for an decrease of 2.8 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub USOICC=ECI rose by 330,000 barrels, EIA said.

Refinery crude runs USOICR=ECI fell by 194,000 barrels per day, EIA data showed. Refinery utilization rates USOIRU=ECI fell by 1.1 percentage points.

Net U.S. crude imports USOICI=ECI rose last week by 626,000 barrels per day.