On Thursday, October 16, the U.S. Energy Information Administration (EIA) reported that U.S. crude oil inventories rose last week, while gasoline and distillate inventories fell.

Data showed that U.S. crude oil inventories rose by 3.5 million barrels to 423.79 million barrels in the week ending October 10, compared with analysts' expectations for a 288,000-barrel increase.

Crude oil inventories at the Cushing, Oklahoma, delivery hub fell by 703,000 barrels during the week.

The EIA said refinery crude oil processing fell by 1.2 million barrels per day last week, and refinery capacity utilization fell by 6.7 percentage points to 85.7%.

U.S. gasoline inventories fell by 267,000 barrels to 218.8 million barrels during the week, compared with analysts' expectations for a 75,000-barrel decrease.

The EIA data showed that distillate fuel inventories, including diesel and heating oil, fell by 4.5 million barrels to 117 million barrels, compared with expectations for a 294,000-barrel decrease.

The EIA said U.S. net crude oil imports fell by 1.75 million barrels per day (bpd) during the week.

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