Thursday 6 September 2018

Crude pulls back on rising U.S. fuel stockpiles | Reuters

Crude pulls back on rising U.S. fuel stockpiles | Reuters:

Crude futures reversed course, falling more than $1 a barrel on Thursday after U.S. data showed gasoline inventories rose unexpectedly last week, overshadowing a bullish drawdown in crude. 

U.S. crude inventories fell more than expected last week as refining runs increased, while gasoline and distillate inventories rose, the Energy Information Administration said on Thursday. [EIA/S]

Stocks at the Cushing, Oklahoma, delivery hub for U.S. crude futures USOICC=ECI rose by 549,000 barrels, EIA said.

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