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

Crude inventories rose by 3.9 million barrels to 424.6 million barrels in the week ended September 5, the EIA said, compared with analysts’ expectations in a Reuters poll for a draw of 1 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 365,000 barrels in the week, the EIA said.

Oil futures pared some earlier gains following the surprise build in inventories. Global Brent crude futures were trading at $66.95 a barrel, up 56 cents at 10:37 a.m. EDT (1437 GMT), while U.S. West Texas Intermediate (WTI) futures were trading at $63.24 a barrel, up 61 cents.

Refinery crude runs fell by 51,000 barrels per day, the EIA said, while utilization rates rose by 0.6 percentage points to 94.9%.

U.S. gasoline stocks rose by 1.5 million barrels in the week to 220 million barrels, the EIA said, compared with analysts’ expectations in a Reuters poll for a 0.2 million-barrel draw.​

Distillate stockpiles, which include diesel and heating oil, rose by 4.7 million barrels in the week to 120.6 million barrels, versus expectations for a 35,000-barrel rise, the EIA data showed.

Net U.S. crude imports rose last week by 668,000 barrels per day, the EIA said.
Source: Reuters