EIA: US crude and gasoline inventories increase, while distillates are drawn down.

The Energy Information Administration (EIA), which is responsible for the U.S. Energy industry, announced on Wednesday that crude oil and gasoline stocks in the United States increased while distillate stockpiles fell.

The EIA reported that crude inventories increased by 5.5 millions barrels, to 426,000,000 barrels for the week ending October 18. This was compared to analysts' expectations based on a poll of 270,000 barrels.

The EIA reported that crude stocks at Cushing, Oklahoma's delivery hub, fell by 346,000 barrels.

U.S. Crude and Brent Futures extended losses following the data.

The EIA reported that refinery crude production increased by 329,000 barrels a day during the past week.

The refinery utilization rate increased by 1.8 points to 89.5%.

The EIA reported that gasoline stocks increased by 900,000.00 barrels during the week, to 213.6,000,000 barrels. This was compared to expectations of a 1.2,000,000 barrel draw.

U.S. futures on gasoline extended losses after the data. ?

The EIA reported that distillate stocks, which includes diesel and heating oil fell by 1.1m barrels last week, as compared to expectations of a 1.7m barrel drop.

U.S. heating oil futures extended losses, despite the smaller-than-expected weekly draw.

The EIA reported that net U.S. crude oil imports increased last week by 913,00 barrels per day. (Reporting and editing by Marguerita Choy in Houston)

(source: Reuters)