U.S. crude stockpiles fall, products post surprise build, EIA says

U.S. crude inventories fell by 1.4 million barrels to 459.5 million barrels in the week ending May 3

U.S. crude oil stockpiles fell as refiners increased production, while fuel inventories rose unexpectedly last week, the Energy Information Administration said on Wednesday.

The draw came as refinery crude runs rose by 307,000 barrels per day, and refinery utilization rates rose by 1 percentage point to 88.5 per cent of total capacity. That, however, was down from 91 per cent utilization a year ago. Distillate stockpiles, which include diesel and heating oil, rose by 600,000 barrels in the week to 116.4 million barrels, versus expectations for a 1.1 million-barrel drop, the EIA data showed.

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Bpd Week Barrel Barrels Cent Draw Refinery United States Cushing EIA Energy Information Administration

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