October 3, 2018 / 3:01 PM / a month ago

U.S. crude stocks rise by most since March 2017: EIA

FILE PHOTO: A pump jack operates at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma, U.S., September 15, 2015. REUTERS/Nick Oxford/File Photo

NEW YORK (Reuters) - U.S. crude oil stocks rose by nearly 8 million barrels last week to about 404 million barrels, the biggest increase since March 2017, Energy Information Administration data showed on Wednesday.

Meanwhile, U.S. weekly Midwest refinery utilization rates dropped to 78.9 percent, to their lowest since Oct. 2015, according to the data.

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

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