News: U.S. crude, fuel stocks rise even as refiners boost output: EIA.
(Reuters) – U.S. crude oil inventories rose last week as refineries stepped up production while gasoline inventories rose and distillate inventories rose, the Energy Information Administration said on Wednesday.
Crude oil inventories rose 2.4 million barrels for the week ended March 12, compared to analysts’ expectations for a 3 million barrels increase.
Crude oil supplies at the Cushing, Oklahoma delivery center fell by 624,000 barrels, according to the EIA.
The refinery’s crude oil volumes rose 1.1 million barrels per day, EIA data showed. The refinery utilization rates increased 7.1 percentage points.
Gasoline inventories rose 472,000 barrels, compared with analysts’ expectations in a Reuters poll for a 3 million barrels decrease.
Distillate inventories, which include diesel and heating oil, rose 255,000 barrels, versus expectations for a 3.4 million barrels decrease, the EIA data showed.
US net crude oil imports fell 219,000 barrels a day last week.
Reporting by David Gaffen
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