US oil and gasoline stocks fell last week By Reuters

© Archyde.com. Crude oil storage tanks in Cushing, Oklahoma, USA – Photo from Archyde.com archive.

(Archyde.com) – The US Energy Information Administration said on Wednesday that US oil and gasoline stocks fell last week, while distillate stocks increased.

Data from the government agency showed that crude stocks fell 3.3 million barrels in the week ending August 26 to 418.3 million barrels, compared to expectations of analysts polled by Archyde.com for a decline of 1.5 million barrels.

Gasoline stocks fell by 1.2 million barrels to 214.5 million barrels, matching analyst expectations.

The Energy Information Administration said distillate stocks, which include diesel and heating oil, rose by 111,000 barrels to 111.7 million barrels, while it was expected to fall by 960,000 barrels.

It added that net US imports from last week’s decline by five thousand barrels per day to 1.99 million barrels per day.

(Prepared by Wagdy Al-Alfi for the Arabic Bulletin)