(Reuters) – U.S. crude stocks rose last week as refineries hiked output, while gasoline stocks increased and distillate inventories rose, the Energy Information Administration said on Wednesday.
Crude inventories rose by 2.4 million barrels in the week to March 12, compared with analysts’ expectations for an increase of 3 million barrels.
Crude stocks at the Cushing, Oklahoma, delivery hub fell by 624,000 barrels, EIA said.
Refinery crude runs rose by 1.1 million barrels per day, EIA data showed. Refinery utilization rates rose by 7.1 percentage points.
Gasoline stocks rose by 472,000 barrels, compared with analysts’ expectations in a Reuters poll for a 3 million-barrel drop.
Distillate stockpiles, which include diesel and heating oil, rose by 255,000 barrels, versus expectations for a 3.4 million-barrel drop, the EIA data showed.
Net U.S. crude imports fell last week by 219,000 barrels per day.
(Reporting By David Gaffen)
