By Liz Moyer
Investing.com -- U.S. oil stockpiles dropped more than expected in the latest week, the Energy Information Administration said on Wednesday.
Crude inventories dropped 5.899 million barrels last week, compared with analysts' expectations for a draw of 2.889 million barrels.
Distillate stockpiles, which include diesel and heating oil, dropped 2.083 million barrels in the week against expectations for a build of 971,000 barrels, the EIA data showed.
Refinery crude runs were 7,000 barrels. The weekly refinery utilization rate rose 1%, according to the EIA report.
Gasoline inventories rose 309,000 barrels last week the EIA said, compared with expectations for a 786,000-barrel build.