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U.S. crude oil stocks soar 6.5 million bbls in unexpected build: API
November 14, 2017 / 9:39 PM / in a month

U.S. crude oil stocks soar 6.5 million bbls in unexpected build: API

NEW YORK (Reuters) - U.S. crude and gasoline stockpiles rose unexpectedly last week, while distillate inventories drew, industry group the American Petroleum Institute said on Tuesday.

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

Crude inventories rose by 6.5 million barrels in the week to Nov. 10 to 461.8 million, compared with analysts’ expectations for a decrease of 2.2 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.8 million barrels, API said.

Refinery crude runs fell by 289,000 barrels per day, API data showed.

Gasoline stocks rose by 2.4 million barrels, compared with analysts’ expectations in a Reuters poll for a 919,000-barrel decline.

Distillate fuels stockpiles, which include diesel and heating oil, fell by 2.5 million barrels, compared with expectations for a 1.3 million-barrel drop, the API data showed.

U.S. crude imports rose last week by 652,000 barrels per day to 8.1 million bpd.

Reporting by New York Energy Desk; tel 646 223 6050

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