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Energy

U.S. crude stocks up; gasoline, distillate inventories fall: API

FILE PHOTO: Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. REUTERS/Drone Base

(Reuters) - U.S. crude oil stocks rose last week while gasoline and distillate inventories fell, data from industry group the American Petroleum Institute showed on Tuesday.

Crude inventories rose by 584,000 barrels in the week to Oct. 16 to about 490.6 million barrels, compared with analysts’ expectations in a Reuters poll for a draw of 1 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.2 million barrels, API said.

Refinery crude runs fell by 197,000 barrels per day, API data showed.

Gasoline stocks fell by 1.6 million barrels, compared with analysts’ expectations in a Reuters poll for a draw of 1.8 million barrels.

Distillate fuel inventories, which include diesel and heating oil, fell by 6 million barrels, compared with expectations for a draw of 1.7 million barrels.

U.S. crude imports rose by 70,000 bpd, the data showed.

Reporting By New York Energy Desk

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