NEW YORK - U.S. crude oil stocks fell unexpectedly last week on higher demand from refiners while refined fuels stocks logged surprise gains, Energy Information Administration weekly data showed on Wednesday.
Commercial crude oil inventories in the United States fell 700,000 barrels to 350.6 million barrels for the week ended February 27, EIA reported, countering forecasts for a build of 1.2 million barrels.
The EIA report said inventories of gasoline increased 200,000 barrels to 215.5 million barrels, compared with a forecast 800,000-barrel draw. Distillates, which include heating oil and diesel, added 1.7 million barrels to 143.3 million barrels versus forecasts of 700,000-barrel decrease.
Crude stocks fell despite an increase of 259,000 barrels per day in crude imports, and was largely pegged to a surge in refinery runs by 409,000 bpd. U.S. refinery utilization was up by 1.7 percentage point to 83.1 percent of capacity, much larger than the expected 0.1 percentage point increase.
According to the American Petroleum Institute's weekly data on Tuesday, U.S. crude oil stocks dipped 463,000 barrels last week, while gasoline fell 642,000 barrels and distillates were up 1.6 million barrels.
Commercial crude oil inventories in the United States fell 700,000 barrels to 350.6 million barrels for the week ended February 27, EIA reported, countering forecasts for a build of 1.2 million barrels.
The EIA report said inventories of gasoline increased 200,000 barrels to 215.5 million barrels, compared with a forecast 800,000-barrel draw. Distillates, which include heating oil and diesel, added 1.7 million barrels to 143.3 million barrels versus forecasts of 700,000-barrel decrease.
Crude stocks fell despite an increase of 259,000 barrels per day in crude imports, and was largely pegged to a surge in refinery runs by 409,000 bpd. U.S. refinery utilization was up by 1.7 percentage point to 83.1 percent of capacity, much larger than the expected 0.1 percentage point increase.
According to the American Petroleum Institute's weekly data on Tuesday, U.S. crude oil stocks dipped 463,000 barrels last week, while gasoline fell 642,000 barrels and distillates were up 1.6 million barrels.
