U.S. crude stocks rose last week as refineries boosted output, while gasoline and distillate stocks fell, data from industry group the American Petroleum Institute showed on Tuesday.
Crude inventories rose by 5.3 million barrels in the week ended March 23 to 430.6 million, compared with analysts’ expectations for a decrease of 287,000 barrels. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.7 million barrels, API said.
Refinery crude runs rose by 310,000 barrels per day, API data showed.
Gasoline stocks fell by 5.8 million barrels, compared with analysts’ expectations in a Reuters poll for a 2 million-barrel decline.[…]