U.S. crude oil, gasoline and distillate inventories fell last week, the Energy Information Administration (EIA) said on Wednesday.
Crude inventories fell by 515,000 barrels to 425.5 million barrels in the week ending Oct. 25, the EIA said, compared with analysts’ expectations in a Reuters poll for a 2.3 million-barrel rise.
Crude stocks at the Cushing, Oklahoma, delivery hub rose by 681,000 barrels.
Net U.S. crude imports fell by 605,000 barrels per day to 1.7 million bpd, as exports ticked up 149,000 bpd to 4.26 million bpd.
U.S. crude and Brent crude futures were little changed following the report.
Refinery crude runs fell by 31,000 barrels per day (bpd) and refinery utilization rates slipped by 0.4 percentage points to 89.1% of total capacity.
Gasoline stocks fell by 2.7 million barrels in the week to 210.9 million barrels, the EIA said, compared with analysts’ expectations for a 600,000-barrel build.
U.S. gasoline futures extended gains after the data showed the surprise decline.
Distillate stockpiles, which include diesel and heating oil, fell by 1 million barrels to 112.9 million barrels, versus expectations for a 1.6 million-barrel drop, the EIA data showed.
U.S. heating oil futures pared gains after the report showed a smaller-than-expected draw.
(Reporting by Georgina McCartney in Houston; Editing by Marguerita Choy)