New York, January 07 (QNA) - US crude oil inventories fell sharply last week, while stocks of petrol and distillate fuels recorded larger-than-expected increases, according to new data from the US Energy Information Administration (EIA).

The EIA, the statistical arm of the US Department of Energy, said crude oil stockpiles declined by 3.8 million barrels to 419.1 million barrels. Analysts had forecast a rise of about 447,000 barrels.

However, crude inventories at the key delivery hub in Cushing, Oklahoma, increased by 728,000 barrels over the same period.

The agency said refinery crude throughput rose by 62,000 barrels per day, while refinery utilisation rates were unchanged at 94.7%.

Petrol inventories climbed by 7.7 million barrels to 242 million barrels, far exceeding expectations for a 3.2-million-barrel increase.

Stocks of distillate fuels — including diesel and heating oil — also rose more than anticipated, increasing by 5.6 million barrels to 129.3 million barrels, compared with forecasts for a 2.1-million-barrel rise.

The EIA also reported that net US crude oil imports increased last week to 563,000 barrels per day.

The mixed data highlighted strong fuel stock builds despite a drawdown in crude inventories, a combination closely watched by energy markets for signals on demand and refining activity. (QNA)