US crude stocks, gasoline and distillate inventories fall
USO•U.S. crude inventories fell by 865,000 barrels to 409.8 million in the week ended October 30, versus expectations for a 877,000-barrel increase. Gasoline stocks fell by 0.2 million barrels and distillate stocks by 3.6 million barrels.
1. Crude inventories fall
U.S. crude inventories fell by 865,000 barrels to 409.8 million barrels in the week ended October 30, the Energy Information Administration said. Analysts had expected a 877,000-barrel increase. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 280,000 barrels.
2. Fuel stocks and refinery activity
Gasoline inventories fell by 0.2 million barrels to 209 million barrels, against expectations for a 0.2 million-barrel build. Distillate stockpiles, which include diesel and heating oil, fell by 3.6 million barrels to 99.3 million, compared with expectations for a 0.1 million-barrel decline. Refinery crude runs rose by 199,000 barrels per day, utilization increased 1.7 percentage points to 94.5%, and net U.S. crude imports rose by 1.18 million barrels per day.
