Official report: US crude inventories rose slightly, and products fell

US, WASHINGTON (ORDO NEWS) —┬áThe US Energy Information Administration said on Wednesday that crude stocks in the United States increased, while gasoline and distillate stocks fell last week.

Crude inventories rose 1.6 million barrels in the week ending March 20 to 455.4 million barrels, compared to analysts’ expectations in a Reuters poll of an increase of 2.8 million barrels.

The Energy Information Administration said crude inventories at the delivery point in Cushing, Oklahoma, rose 858,000 barrels last week.

She said that the consumption of crude in refineries increased by 18 thousand barrels per day. Refinery utilization rates rose 0.9 percentage points over the week.

The administration said that gasoline stocks in the United States fell 1.5 million barrels last week to 239.3 million barrels, compared with analysts’ expectations in a Reuters poll of a decrease of 657 thousand barrels.

Energy Information Administration data showed that distillate stocks, which include diesel and heating oil, fell 679 thousand barrels over the week to 124.4 million barrels, compared to expectations for a decline of 1.9 million barrels.

The administration said that the net US imports of crude oil rose last week by 106 thousand barrels per day.


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