US crude stocks surge, fuel stocks plunge in wake of Texas freeze
- Crude inventories rose by 21.6 million barrels in the week to Feb. 26 to 484.6 million barrels, compared with analysts' expectations in a Reuters poll for a 932,000-barrel drop.
- Crude stocks at the Cushing, Oklahoma, delivery hub rose by 485,000 barrels in the last week, EIA said.
US crude stocks rose sharply while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday.
Crude inventories rose by 21.6 million barrels in the week to Feb. 26 to 484.6 million barrels, compared with analysts' expectations in a Reuters poll for a 932,000-barrel drop.
Crude stocks at the Cushing, Oklahoma, delivery hub rose by 485,000 barrels in the last week, EIA said.
Refinery crude runs fell by 2.3 million barrels per day in the last week, EIA said.
Refinery utilization rates fell by 12.6 percentage points, in the week.
US gasoline stocks fell by 13.6 million barrels in the week to 243.5 million barrels, the EIA said, compared with analysts' expectations in a Reuters poll for a 2.3 million-barrel drop.?
Distillate stockpiles, which include diesel and heating oil, fell by 9.7 million barrels in the week to 143 million barrels, versus expectations for a 3 million-barrel drop, the EIA data showed.
Net US crude imports rose by 1.66 million barrels per day, EIA said.
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