U.S. crude stocks, gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday.
Crude inventories fell by 913,000 barrels to 463.8 million barrels in the week ended April 10, the EIA said, compared with analysts’ expectations in a Reuters poll for a 154,000-barrel rise.
Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.7 million barrels in the week, the EIA said.
Oil futures pared earlier losses following the report. Global Brent crude futures were trading at $95.01 a barrel, up 22 cents, at 10:38 a.m. ET (1438 GMT), while U.S. West Texas Intermediate futures were up 34 cents, at $91.62 a barrel.
Refinery crude runs fell by 208,000 barrels per day in the week, the EIA said, while refinery utilization rates fell by 2.4 percentage points in the week to 89.6%.
U.S. gasoline stocks fell by 6.3 million barrels in the week to 232.9 million barrels, the EIA said, compared with analysts’ expectations in a Reuters poll for a 2.1 million-barrel draw.
Distillate stockpiles, which include diesel and heating oil, fell by 3.1 million barrels in the week to 111.6 million barrels, versus expectations for a 2.4 million-barrel drop, the EIA data showed. Net U.S. crude imports fell by 2.11 million barrels per day, the EIA said.
(Reporting by Liz Hampton in Denver and Georgina McCartney in Houston;)