US Crude Inventories Fell Last Week Gasoline Stocks Rose

April 19, 2017 Share Print 0

U.S. crude stocks fell last week as refineries hiked output, while gasoline stocks increased and distillate inventories fell, the Energy Information Administration said on Wednesday.

Crude inventories fell by 1 million barrels in the week to April 14, compared with analysts’ expectations for an decrease of 1.5 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 778,000 barrels, EIA said.

Refinery crude runs rose by 241,000 barrels per day, EIA data showed. Refinery utilization rates rose by 1.9 percentage points.

Gasoline stocks rose by 1.5 million barrels, compared with expectations in a Reuters poll for a 1.9 million-barrel drop.

Distillate stockpiles, which include diesel and heating oil, fell by 2 million barrels, versus expectations for a 1 million-barrel drop, the EIA data showed.

U.S. crude imports rose last week by 56,000 barrels per day.

via Reuters

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.