USA: Crude Oil Inventories Rise More than Expected.

US crude inventories rose by 3.1 million barrels to 464.7 million barrels in the week ended April 3, compared with market expectations for a 701,000-barrel rise. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 24,000 barrels in the week. Refinery crude runs fell by 129,000 barrels per day, while utilization rates fell by 0.1 percentage points to 92% in the week. US gasoline stocks fell by 1.6 million barrels in the week to 239.3 million barrels, compared with expectations for a 1.4 million-barrel draw. Distillate stockpiles, which include diesel and heating oil, fell by 3.1 million barrels in the week to 114.7 million barrels, versus expectations for a 1.5 million-barrel drop. Net US crude imports fell last week by 758,000 barrels per day, EIA said.