US crude inventories increase by 6.5 mln bbls: EIA

US crude oil inventories, excluding the Strategic Petroleum Reserve, increased by 6.5 million barrels for the week ended Oct. 12, according to data from the Energy Information Administration (EIA).

At 416.4 million barrels, US crude oil inventories stood at about two percent above the five-year average for this time of year, the report noted.

Gasoline stocks fell by two million barrels, whereas Distillate stockpiles, which include diesel and heating oil, fell by 827,000 barrels, the EIA data showed.

Propane-propylene inventories increased by two million bbl last week and are about five percent below the five-year average for this time of 2018, EIA said.

EIA expects strong US refinery runs and distillate margins, each of which encourages refiners to maximize distillate production, to continue through the winter.