By Anthony Harrup


U.S. crude oil inventories rose last week and gasoline stocks fell, while refineries stepped up their capacity use for a third consecutive week, according to data released Wednesday by the U.S. Energy Information Administration.

Commercial crude oil stocks excluding the Strategic Petroleum Reserve rose by 1.8 million barrels to 458.8 million barrels in the week ended May 17, and were about 3% below the five-year average for the time of year, the EIA said.

Analysts surveyed by The Wall Street Journal had predicted crude inventories would fall by 2 million barrels.

Stocks of gasoline decreased, while distillate fuels inventories rose. 


 
Change in U.S. oil inventories for the week ended May 17: 
 
                   Crude       Gasoline      Distillates         Refinery Use 
EIA data:           1.8          -0.9            0.4                  1.3 
Forecast:          -2.0          -1.0         unchanged               0.5

Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.


Write to Anthony Harrup at anthony.harrup@wsj.com


(END) Dow Jones Newswires

05-22-24 1055ET