API: Crude Stocks Rose And Gasoline Fell Last Week

Data from the American Petroleum Institute showed that US inventories of crude oil rose last week, while gasoline and distillate stocks declined.

Crude inventories increased by 951 thousand barrels over the week ending on October 2 to about 495.4 million barrels, while analysts’ expectations indicated an increase of 294 thousand barrels.

And crude stocks at the delivery center in Cushing, Oklahoma, rose by 749,000 barrels.

The Petroleum Institute data showed that the consumption of crude refineries rose by 169 thousand barrels per day.

Gasoline stocks fell by 867,000 barrels, while analysts in a Reuters poll expected a decline of 471,000 barrels.

Distillate stocks, which include diesel and heating oil, fell one million barrels, compared to expectations of 995,000 barrels.

The data showed that US imports of crude oil rose 198 thousand barrels per day last week.