The US stockpile of crude oil declined today, while gasoline and distillate stocks increased, according to the US Energy Information Administration.
Reuters quoted the administration as saying that the crude stockpile at the delivery point in Cushing, Oklahoma, fell by two million barrels last week. The consumption of crude oil by refineries increased by 274 thousand barrels per day over the week, and the rate of utilization of refinery capacity rose 1.3 percentage points.
In a poll conducted by Reuters, crude stocks fell by 3.2 million barrels over the week ending in the eighth of January to 482.2 million barrels, while analysts expected 2.3 million barrels.
US gasoline inventories grew 4.4 million barrels to 245.5 million barrels, while analysts in a Reuters poll expected a rise of 2.7 million barrels.
Distillate stocks, which include diesel and heating oil, rose 4.8 million barrels to 163.2 million barrels, while they were expected to rise 2.7 million barrels.
Net US crude imports rose 1.5 million barrels per day last week, according to the Energy Information Administration.