U.S. Crude Stocks Rise, Fuel Stocks Fall in Latest Week-API

OILMONSTER.COM- U.S. crude oil stocks rose while gasoline and distillate inventories fell in the most recent week, data from industry group the American Petroleum Institute showed on Tuesday.

Crude inventories rose by 1.7 million barrels in the week to June 19 to 545 million barrels, compared with analysts’ expectations for a build of 299,000 barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 325,000 barrels, API said.

Refinery crude runs rose by 93,000 barrels per day, API data showed.

Gasoline stocks fell by 3.9 million barrels, compared with analysts’ expectations in a Reuters poll for a draw of 1.3 million barrels.

Distillate fuel inventories, which include diesel and heating oil, fell by 2.6 million barrels, compared with expectations for a decrease of 620,000 barrels.

U.S. crude imports rose last week by 97,000 barrels per day, the data showed.

Courtesy: www.reuters.com