U.S. crude oil, gasoline and distillate inventories rose last week, the Energy Information Administration said on Wednesday.

Crude inventories rose by 1.8 million barrels to 416.5 million barrels in the week ended September 26, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1 million-barrel rise.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 271,000 barrels in the week, according to the EIA.

Oil futures extended losses following the larger-than-expected build in stockpiles. Global benchmark Brent crude futures were trading at $65.39 a barrel, down 64 cents by 10:35 a.m. EDT (1435 GMT) while U.S. crude was down 61 cents at $61.76 a barrel.

Refinery crude runs fell by 308,000 barrels per day, while utilization rates fell by 1.6 percentage points to 91.4%.

Gasoline stocks rose by 4.1 million barrels in the week to 220.7 million barrels, the EIA said, compared with expectations for a 675,000-barrel build.​

Distillate stockpiles, which include diesel and heating oil, rose by 578,000 barrels in the week to 123.6 million barrels, versus forecasts for a 1.1 million-barrel drop.

Net U.S. crude imports rose last week by 71,000 barrels per day, the EIA said.
Source: Reuters