US: Crude oil inventories fall more than expected

Followed by-INA  
US crude oil inventories fell, while gasoline and distillate inventories rose last week.
 
The US Energy Information Administration said crude inventories fell by 1.8 million barrels to 428.4 million barrels in the week ending November 22, compared to analysts' expectations in a Reuters poll for a decline of 605,000 barrels.
The administration added that crude inventories at the Cushing, Oklahoma, delivery center fell by about 909,000 barrels.
It explained that crude consumption in refineries rose by about 67,000 barrels per day, and refinery utilization rates rose by 0.3 percentage points during the week to 90.5 percent.
The administration said that gasoline inventories rose by 3.3 million barrels in the week to 212.2 million barrels, compared to analysts' expectations in a Reuters poll for a decline of 46,000 barrels.
The data showed that distillate stocks, which include diesel and heating oil, rose by 400,000 barrels in the week to 114.7 million barrels, compared with expectations for a 100,000-barrel increase. The administration said net U.S. Crude imports fell by 1.89 million barrels per day.