NEW YORK: US crude oil and gasoline inventories rose more than forecast last week, while distillate stocks fell more than expected, data from the Energy Information Administration showed on Wednesday.
Crude inventories rose 2.86 million barrels in the week to Oct. 12, the EIA report showed. Analysts had forecast a 1.7-million-barrel crude build.
Gasoline inventories also rose 1.72 million barrels, against forecasts for levels rising 500,000 barrels, the EIA report showed.
Distillate stockpiles, which include heating oil and diesel, fell 2.22 million barrels, compared with forecasts for a draw of 1.2 million barrels.
Refinery utilization rose 0.7 percentage point to 87.4 percent of capacity. Analysts had forecast rates rising 0.3 percentage point.
US crude oil futures pared gains after the data, nearly shedding 50 cents of gains and trading just 2 cents higher on the day at $92.11 per barrel by 10:40 a.m. EST (1440 GMT).
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