EIA: US Crude Stockpiles Flat; Products Build Sharply

U.S. gasoline and distillate inventories rose sharply last week as refineries ramped up activity, while crude oil stocks were barely changed, the Energy Information Administration (EIA) said Jan. 4.

Crude inventories rose by 7,000 barrels in the week to Dec. 28, compared with analyst expectations for a decrease of 3.1 million barrels, the EIA said in its report delayed by two days due to the New Year’s Day holiday.

Distillate stockpiles, however, which include diesel and heating oil, rose by 9.5 million barrels, the greatest one-week jump since December 2016, the EIA said. Analysts were expecting a 1.6 million-barrel increase.