By Liz Moyer
Investing.com -- U.S. oil stockpiles dropped by less than expected in the latest week, the Energy Information Administration said on Wednesday.
Crude oil inventories fell 427,000 barrels last week, compared with analysts' expectations for a draw of 2.817 million barrels.
Distillate stockpiles, which include diesel and heating oil, fell 1.733 million barrels in the week against expectations for a draw of 1.080 million barrels, the EIA data showed.
Refinery crude runs were down 223,000 barrels. The weekly refinery utilization rate fell 0.4%, according to the EIA report.
Gasoline inventories rose 378,000 barrels last week the EIA said, compared with expectations for a draw of 600,000 barrels.