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US crude stocks increase for first time since April

Oil

US crude oil inventories rose by 2.4M bbls w-o-w to total 465.4M bbls in the week ending 26 June, according to the US Energy Information Administration. US crude imports jumped by 748K b/d from the previous week to average 7.5M b/d, the highest since April. US crude runs averaged 16.5M b/d, almost unchanged from the prior week. US gasoline stocks fell by 1.8M bbls w-o-w to total 216.7M bbls, the lowest since November 2014. US distillate fuel oil stocks edged up by 392K bbls to total 135.8M bbls. US East Coast distillate fuel oil stocks rose by 1.25M bbls from the prior week to total 44.5M bbls, the highest since April 2012.