The American Petroleum Institute: Crude stocks rose 4.1 million barrels last week
Economy News _ Baghdad
Data from the American Petroleum Institute showed that US crude oil inventories rose last week, while gasoline and distillate inventories fell.
Crude inventories rose 4.1 million barrels for the week ending October 4 to 422 million barrels, while analysts expected a 1.4 million barrel increase. Crude stocks at the point of delivery in Cushing, Oklahoma rose 1.2 million barrels, the institute said.
The Institute of Petroleum data pointed to a decline in crude consumption at refineries 71 thousand barrels per day.
Gasoline inventories fell 5.9 million barrels, compared with analysts' forecast in a Reuters poll of a 257,000 barrel decline.
Distillate stocks, which include diesel and heating oil, fell by 4 million barrels, compared with expectations for a 2.1 million barrel drop, according to the Petroleum Institute.
US crude imports rose last week by 381,000 bpd to 6.4 million bpd.