The Energy Information Administration in the United States said, on Wednesday, that the country’s stocks of crude oil and distillates rose, while gasoline stocks fell last week.
The administration’s data showed that crude inventories rose 1.2 million barrels to 480.2 million barrels in the week ending February 24.
Analysts polled by Archyde.com expected an increase of 500,000 barrels.
Crude stocks at the delivery center in Cushing, Oklahoma, rose by 307,000 barrels last week.
The administration said that the rate of crude consumption in refineries fell by 0.1 percentage point in the same week, and the rate of refinery operation decreased by 31 thousand barrels per day.
The administration stated that gasoline stocks in the United States fell by 900 thousand barrels in the same week to 239.2 million barrels, compared to analysts’ expectations for an increase of 500 thousand barrels.
The data showed that distillate stocks, which include diesel and heating oil, rose by 0.2 million barrels in the same week to 122.1 million barrels, compared to expectations for a decrease of 500,000 barrels.
The administration indicated that net US imports of crude fell by 1.15 million barrels per day.
