FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub, appearing to run out of space to contain a historic supply glut that has hammered prices, in Cushing, Oklahoma, March 24, 2016. REUTERS/Nick Oxford/File Photo
February 16, 2022
(Reuters) – U.S. crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday.
Crude inventories rose by 1.1 million barrels in the week to Feb. 11 to 411.5 million barrels, compared with analysts’ expectations in a Reuters poll for a 1.6 million-barrel drop.
Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.9 million barrels in the last week, EIA said.
Refinery crude runs fell by 675,000 barrels per day in the last week, EIA said.
Refinery utilization rates fell by 2.9 percentage points, in the week.
U.S. gasoline stocks fell by 1.3 million barrels in the week to 247.1 million barrels, the EIA said, compared with analysts’ expectations in a Reuters poll for a 550,000-barrel rise.
Distillate stockpiles, which include diesel and heating oil, fell by 1.6 million barrels in the week to 120.3 million barrels, versus expectations for a 1.5 million-barrel drop, the EIA data showed.
Net U.S. crude imports rose last week by 230,000 barrels per day, EIA said.
(Reporting By David Gaffen)