US Crude Stocks Dip, Gasoline Inventories up: EIA

US crude stocks and distillate inventories fell while gasoline inventories rose, the Energy Information Administration said on Wednesday.

Crude inventories fell by 1 million barrels in the week to October 16 to 488.1 million barrels, compared with analysts' expectations in a Reuters poll for a 1 million-barrel drop.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 975,000 barrels in the last week, EIA said.

Refinery crude runs fell by 551,000 barrels per day in the last week, EIA said.

Refinery utilization rates fell by 2.2 percentage points in the week.

US gasoline stocks rose by 1.9 million barrels in the week to 227 million barrels, the EIA said, compared with expectations in a Reuters poll for a 1.8 million-barrel drop.

Distillate stockpiles, which include diesel and heating oil, fell by 3.8 million barrels in the week to 160.7 million barrels, versus expectations for a 1.7 million-barrel drop, the EIA data showed.

Net US crude imports fell by 1.1 million barrels per day, EIA said.