Business

US crude stocks fall less than expected, products build sharply: EIA


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


Gasoline stocks rose 8.1 million barrels, the largest weekly rise since December of 2016.


U.S. Gulf Coast gasoline inventories rose to 89.4 million barrels, hitting fresh record highs, EIA data showed.


“The milder temperatures have hurt distillate demand a little bit,” said Phil Flynn, an analyst at Price Futures Group in Chicago.


Refinery crude runs fell by 194,000 barrels per day, EIA data showed.


Refinery utilization rates fell by 1.1 percentage point to 96.1 percent of total capacity.






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