US crude inventories fall more than expected: EIA

HOUSTON: US crude stocks, gasoline and distillate inventories fell last week, the Energy Information Administration said on Thursday. Crude inventories fell by 1.5 million barrels in the last week to 452.2 million barrels, compared with analysts’ expectations in a Reuters poll for a 1 million-barrel drop.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 400,000 barrels in the week ended June 30, EIA said. Refinery crude runs fell by 224,000 barrels per day in the last week, EIA said. Refinery utilization rates fell by 1.1 percentage points in the week.