United States Crude Oil Stocks Change

US crude stocks fell while gasoline and distillate inventories rose in the week ending January 10, the Energy Information Administration said. Crude inventories fell by 1.961 million barrels, more than market expectations for a 1.6 million-barrel draw. It was the 8th consecutive drop in crude oil stocks. However, crude stocks at the Cushing, Oklahoma, delivery hub went up by 0.765 million. Also, gasoline stocks rose by 5.852 million barrels, above expectations for a 2.6 million-barrel build. Distillate stockpiles, which include diesel and heating oil, increased by 3.077 million barrels, more than expectations for 1.1 million-barrel rise. Meanwhile, net US crude imports fell by 1.304 million barrels per day.