| NEW YORK
NEW YORK Feb 20 U.S. crude oil stockpiles rose
more than expected last week as imports rose and refinery output
fell, data from the Energy Information Administration showed on
Crude oil inventories rose 1.4 million barrels in the week
ending Feb. 28, compared to analysts' expectations for a build
of 1.3 million barrels.
Imports rose by 75,000 bpd and refinery utilization slipped
Stocks of distillates rose by 1.4 million barrels,
confounding analysts' expectations for a 1.2 million barrel
draw. Gasoline stocks fell 1.6 million barrels, slightly more
than analysts' expectations of a 1.2 million barrel draw.
Crude stocks at the Cushing, Oklahoma, hub fell by 2.7
million barrels, the fifth straight week of draws as new
pipelines continued to move oil to the Gulf Coast.
U.S. benchmark oil futures extended losses and were
down more than $1 in the minutes after the data was released.
Heating oil futures extended losses after the data
and by 10:40 a.m. EST (1540 GMT) the contract was 3 cents lower
at $3.0075 a gallon.