U.S. crude oil and gasoline stockpiles fell last week, while distillate inventories rose, the U.S. Energy Information Administration said on Wednesday.
Crude inventories fell by 8.3 million barrels to 418.2 million barrels in the week to June 12, the EIA said, compared with analysts’ expectations in a Reuters poll for a 4.6 million-barrel draw.
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Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.6 million barrels in the week, the EIA said.
Oil futures extended gains following the report. Global Brent crude futures were trading at $80.32 a barrel, up $1.36 at 10:38 a.m. ET (1438 GMT), while U.S. West Texas Intermediate futures were up $1.5 to $77.55 a barrel.
Refinery crude runs rose by 230,000 barrels per day in the week, the EIA said, while refinery utilization rates rose by 1.4 percentage points in the week to 96.7.
U.S. gasoline stocks fell by 906,000 barrels in the week to 214.2 million barrels, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1 million-barrel draw.
Distillate stockpiles, which include diesel and heating oil, rose by 1 million barrels in the week to 103.1 million barrels, versus expectations for a 470,000 barrel drop, the EIA data showed.
Net U.S. crude imports fell last week by 241,000 barrels per day, EIA said.
(Reporting by Liz Hampton in Denver; Editing by Chizu Nomiyama)
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