January 24, 2025 [Reuters]- U.S. crude and distillate inventories fell last week, while gasoline inventories rose, the U.S. Energy Information Administration (EIA) reported on Thursday.

Crude inventories fell 1 million barrels in the week ended Jan. 17 to 411.7 million barrels, the ninth consecutive weekly decline, the EIA said. Reuters analysts had expected a draw of 1.6 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 148,000 barrels, according to the EIA.

Crude oil futures extended losses after data showed a smaller-than-expected decline.

Brent crude, the global benchmark, was trading at $78.3 a barrel, down 70 cents, at 1713 GMT, while West Texas Intermediate crude was down 66 cents at $74.79 a barrel.

The operation of crude oil refineries fell by 1.1 million barrels per day, while utilization rates fell 5.8 percentage points in the week to 85.9%, the EIA said.

Gasoline stocks rose 2.3 million barrels in the week to 245.9 million barrels, according to the EIA, in line with analyst forecasts.

Distillate stocks, which includes diesel and heating oil, fell 3.1 million barrels in the week to 128.9 million barrels, versus expectations for a rise of 300,000 barrels, the data showed.

US crude oil net imports rose last week by 184,000 barrels per day, according to the EIA.

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