INSTANT VIEW: U.S. crude stocks rise, distillates off

NEW YORK (Reuters) - U.S. crude oil stocks rose more than expected last week while distillate inventories showed an unexpected draw, according to data released on Wednesday from the U.S. Energy Information Administration.

Gasoline stocks rose slightly more than analysts had forecast, while heating oil inventories also showed a build.

TOM BENTZ, SENIOR ENERGY ANALYST, BNP PARIBAS COMMODITY FUTURES

INC, NEW YORK, NY

"The distillate number was definitely supportive. It's a pretty significant draw when most expected a build. But I think what is confusing the market is the 8 million build in API crude stocks. This is certainly contrary to what the EIA has.

"On distillates, we are sitting lower than we should be at the lower end of stock levels. A drawdown in distillates is bullish over all."

TOM KNIGHT, TRADER, TRUMAN ARNOLD, TEXARKANA, TEXAS:

"We might have had a short-covering rally here, but the rally doesn't appear to be sustainable, even with the EIA data showing an overall distillate draw. The bleak economic data we have seen this morning will overwhelm any rally in the energy futures here."

(New York Energy Desk, 646-223-6050)