Market News

U.S. crude and fuel inventories rose last week, the Energy Information Administration said on Wednesday.

Crude inventories rose by 574,000 barrels to 427.5 million barrels in the week ended Nov. 28, the EIA said, compared with analysts’ expectations in a Reuters poll for an 821,000-barrel draw.

Crude stocks at the Cushing, Oklahoma, delivery hub USOICC=ECI fell by 457,000 barrels in the week, the EIA said.

Refinery crude runs USOICR=ECI rose by 433,000 barrels per day in the week, the EIA said.

Refinery utilization rates increased by 1.8 percentage points in the week.

U.S. gasoline stocks rose by 4.52 million barrels in the week to 214.42 million barrels, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.5 million-barrel build.

Distillate stockpiles, which include diesel and heating oil, rose by 2.1 million barrels in the week to 114.3 million barrels, versus expectations for a 0.7-million-barrel rise, the EIA data showed.

Net U.S. crude imports fell 470,000 bpd to 2.37 million bpd.

The report was delayed from its usual time due to technical difficulties, the EIA said.

(Reporting by Georgina McCartney in Houston and Shariq Khan in New York Editing by Rod Nickel)