The US Energy Information Administration said on Wednesday that US crude oil inventories rose, while gasoline and distillate inventories fell last week.
Crude stocks rose 8.5 million barrels in the week ending May 6 to 424.2 million barrels, compared to analysts’ expectations in a Reuters poll for a 0.5 million barrel decline.
Crude oil stocks at the delivery center in Cushing, Oklahoma, fell by 587,000 barrels last week.
The administration stated that the consumption of US oil refineries increased by 230,000 barrels per day last week.
The refinery operating rate also increased by 1.6 percentage points during the week, according to “Reuters”.
The Energy Information Administration said that US gasoline stocks fell by 3.6 million barrels during the week to 225 million barrels, compared with analysts’ expectations in a Reuters poll for a 1.6 million barrel decline.
The data showed that distillate stocks, which include diesel and heating fuel, fell by 913,000 barrels per week to 104 million barrels, against expectations for a 1.3 million barrel decline.
The administration said that net US imports of crude rose last week by 632,000 barrels per day.
