US crude stocks rise, gasoline and distillate inventories fall
USO•US crude inventories rose by 922,000 barrels to 427.3 million barrels in the week ended September 25, while gasoline stocks fell by 1.7 million barrels and distillate stocks by 2.3 million barrels.
1. Crude inventories rise
US crude inventories rose by 922,000 barrels to 427.3 million barrels in the week ended September 25, compared with analysts’ expectations for a 264,000-barrel draw. Stocks at the Cushing, Oklahoma, delivery hub increased by 553,000 barrels.
2. Fuel stocks decline
Gasoline inventories fell by 1.7 million barrels to 204.4 million, while distillate stockpiles, which include diesel and heating oil, dropped by 2.3 million barrels to 105.2 million. Analysts had expected declines of 485,000 barrels for gasoline and 190,000 barrels for distillates.
3. Refinery activity and imports
Refinery crude runs fell by 554,000 barrels per day, and utilization rates declined 1.5 percentage points to 92.5%. Net US crude imports decreased by 468,000 barrels per day.
