March 13, 2018 / 8:39 PM / 6 days ago

U.S. crude oil stocks rise 1.2 million bbls: API

NEW YORK (Reuters) - U.S. crude stocks rose less than expected last week, while gasoline and distillate inventories drew, industry group the American Petroleum Institute said on Tuesday.

Crude inventories rose by 1.2 million barrels in the week to 428 million, compared with analysts’ expectations for an increase of 2 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 156,000 barrels, API said.

Refinery crude runs rose by 85,000 barrels per day, API data showed.

Gasoline stocks fell by 1.3 million barrels, compared with analysts’ expectations in a Reuters poll for a 1.2 million-barrel decline.

Distillate fuels stockpiles, which include diesel and heating oil, fell by 4.3 million barrels, compared with expectations for a 1.5 million-barrel drop, the API data showed.

U.S. crude imports rose last week by 101,000 barrels per day to 7.9 million bpd.

Reporting by New York Energy Desk

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