US Crude Stocks Rise

US Crude Stocks RiseUS Crude Stocks Rise

US crude stocks rose last week, along with gasoline inventories and distillate inventories, data from industry group the American Petroleum Institute showed on Tuesday. Crude inventories rose by 1.5 million barrels in the week to Jan. 6 to 484.3 million, compared with analyst expectations for an increase of 1.2 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 187,000 barrels, Reuters reported. Distillate stockpiles, which include diesel and heating oil, rose by 5.5 million barrels, compared with expectations for an 899,000-barrel gain, the API data showed. Refinery crude runs rose by 452,000 barrels per day. Gasoline stocks rose by 1.7 million barrels, compared with analysts’ expectations in a Reuters poll for a 1.6 million-barrel gain. US crude imports rose last week by 1.7 million bpd to 8.8 million bpd.

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