US gasoline and distillate stocks built last week, says API

London (Quantum Commodity Intelligence) - A large fall in crude stocks was offset by builds in gasoline and distillates last week, which included the first weekend of the US driving season, sources said Wednesday, citing data from the American Petroluem Institute.

Crude stocks were down almost 5.4 million barrels but there gasoline stocks were up 2.5 million barrels and distillate stocks were up around 1.6 million barrels over the week to Monday, May 28.

The data was delayed until Wednesday because of the public holiday in the US on Monday.

The Energy Information Administration will release its weekly oil statistics on Thursday at 1530 UK time.