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Last Updated : May 06, 2020 08:01 AM IST | Source: Reuters

US crude stocks rise by 8 million barrels in latest week: Report

Crude inventories rose by 8.4 million barrels in the week to May 1 to 518.6 million barrels, compared with analysts' expectations for a build of 7.8 million barrels.


US crude oil and distillate stocks rose while gasoline stocks fell, data from industry group the American Petroleum Institute showed on Tuesday.

Crude inventories rose by 8.4 million barrels in the week to May 1 to 518.6 million barrels, compared with analysts' expectations for a build of 7.8 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 2.7 million barrels, API said.

Refinery crude runs rose by 197,000 barrels per day, API data showed.

Gasoline stocks fell by 2.2 million barrels, compared with analysts' expectations in a Reuters poll for a 43,000-barrel increase.

Distillate fuel inventories, which include diesel and heating oil, rose by 6.1 million barrels, compared with expectations for an increase of 2.9 million barrels.

U.S. crude imports rose last week by 247,000 barrels per day, the data showed.

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First Published on May 6, 2020 07:57 am
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