By Barani Krishnan
Investing.com - U.S. crude oil stockpiles fell almost double to expectations last week, though inventories of gasoline rose more than eight times the levels forecast, weekly data from the Energy Information Administration showed Wednesday.
Stockpiles of distillates, typically turned into diesel and fuel for aircraft, among others, posted a surprise gain as well versus expectations for a decline.
Crude inventories fell by 4.72 million barrels for the week ended Dec. 17 — versus a forecast decline of 2.5 million — and added to the 4.58-million slide in the previous week to Dec. 10.
Gasoline stockpiles rose by 5.53 million barrels against forecasts for a rise of just 65,000. In the previous week, gasoline drew down by 719,000 barrels.
Distillates inventories rose by 396,000 barrels versus a projected drop of 250,000. In the previous week, distillate stocks fell by 2.85 million.