Wednesday 2 July 2014

U.S. crude inventories decline more than expected -EIA

U.S. crude stocks fell last week as refineries hiked output, while gasoline stocks decreased and distillate inventories rose, data from the Energy Information Administration showed on Wednesday.

Crude inventories fell by 3.2 million barrels, compared with analysts' expectations for an decrease of 2.2 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.36 million barrels, EIA said.

Refinery crude runs rose by 546,000 barrels per day, EIA data showed.

Gasoline stocks fell by 1.2 million barrels, compared with analysts' expectations in a Reuters poll for a 400,000-barrel gain.

Distillate stockpiles , which include diesel and heating oil, rose by 1.0 million barrels, versus expectations for a 800,000-barrel increase, the EIA data showed.

U.S. crude imports fell last week by 76,000 barrels per day.


Source: Reuters

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