US crude stocks and distillate inventories fall, gasoline stocks rise, the EIA says
USO•U.S. crude inventories fell 1.9 million barrels to 410.6 million in the week ended October 23, while gasoline stocks rose 3.9 million barrels to 209.2 million and distillate stocks fell 1.5 million barrels to 102.8 million.
1. Weekly inventory changes
Crude inventories fell by 1.9 million barrels to 410.6 million barrels, compared with analysts’ expectations for a 15,000-barrel increase. Stocks at the Cushing, Oklahoma, delivery hub fell by 624,000 barrels. Gasoline inventories rose by 3.9 million barrels to 209.2 million, versus expectations for a 900,000-barrel draw; distillate inventories fell by 1.5 million barrels to 102.8 million, compared with expectations for a 900,000-barrel decline.
2. Refining and imports
Refinery crude runs fell by 123,000 barrels per day, and utilization declined 0.6 percentage points to 92.8%. Net U.S. crude imports fell by 796,000 barrels per day.
