August 8, 2018 / 5:06 PM / 7 days ago

U.S. crude stocks at Cushing drop to lowest since October 2014

NEW YORK (Reuters) - Oil inventories at Cushing, Oklahoma, the delivery point for U.S. crude futures, extended declines last week to 21.8 million barrels, the lowest level since October 2014, data from the Energy Information Administration showed on Wednesday.

FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016. REUTERS/Nick Oxford/File Photo

Meanwhile, U.S. Midwest distillate stocks last week rose to the highest since September 2017.

Reporting by Devika Krishna Kumar in New York; Editing by Marguerita Choy

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