USA: Crude Oil Inventories Fall More than Expected.

US crude oil inventories fell by 8.262 million barrels, the most since February, to 418.2 million barrels in the week ended June 12, more than market expectations for a 4.6 million-barrel draw. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.606 million barrels. Refinery crude runs rose by 230,000 barrels per day, while refinery utilization rates rose by 1.4 percentage points. Gasoline stocks fell by 0.906 million barrels to 214.2 million barrels, near forecasts for a 1 million-barrel draw. Distillate stockpiles, which include diesel and heating oil, rose by 0.951 million barrels to 103.1 million barrels, compared with expectations for a 0.5 million-barrel drop. Net crude imports fell by 241,000 barrels per day.