U.S. Crude Oil Inventories Up Last Week - EIA

(RTTNews) - Crude oil inventories in the U.S. moved up during the week ended October 18, official data showed Wednesday.

The U.S. Energy Information Administration in its weekly crude oil report said U.S. commercial crude oil inventories increased 5.20 million barrels to 379.80 million barrels last week, and are above the upper range for this time of year.

The week before, crude oil inventories increased 4.00 million barrels to 374.50 million barrels.

Meanwhile, total motor gasoline inventories moved down 1.80 million barrels last week, after easing 2.60 million barrels in the prior week, but are near the top of the average range.

Analyst expected crude oil inventories to add 1.70 million barrels and gasoline stocks to ease 0.10 million barrels last week.

Last Tuesday, data from the API revealed that U.S. crude oil inventories moved up 3.00 million barrels, and gasoline stocks shed 0.51 million barrels in the weekended October 18

Oil refinery inputs averaged about 14.90 million barrels per day during the week, which were 2,000 barrels per day higher than the previous week's average as refineries operated at 85.90 percent of their operable capacity.

Meantime, U.S. crude oil imports during the week averaged about 7.70 million barrels per day last week, down by 348,000 barrels per day from the previous week, official data revealed. Over the last four weeks, imports have averaged 8.00 million barrels per day, 4.3 percent below the same four-week period last year.

Light Sweet Crude Oil (WTI) futures for December delivery are shedding $1.60 to $96.70 a barrel.