U.S. crude stockpiles slide as imports fall -EIA

U.S. crude oil stockpiles fell last week as imports dropped, while gasoline stocks and distillate inventories also declined, the Energy Information Administration said on Wednesday.

Crude inventories fell by 4.1 million barrels in the week to July 23, more than analysts’ expectations in a Reuters poll for a decrease of 2.9 million barrels.

Stocks at the Cushing, Oklahoma, delivery hub for U.S. crude futures fell by 1.268 million barrels, EIA said.

Net U.S. crude imports fell last week by 616,000 barrels per day.

Refinery crude runs fell by 132,000 bpd, and refinery utilization rates slipped 0.3 percentage point, EIA data showed.

Gasoline stocks fell by 2.3 million barrels, more than double forecasts for a 916,000-barrel drop.

Distillate stockpiles, which include diesel and heating oil, dropped by 3.1 million barrels, data showed, also exceeding expectations for a 435,000-barrel drop.