Crude Supplies Jump Sharply, Defying Expectations

U.S. refineries ran at 86.3 percent of total capacity on average, an increase of 1.2 percent from the prior week. Analysts expected capacity to rise to 85.7 percent.

Inventories of distillate fuel, which include diesel and heating oil, rose by 1.6 million barrels to 150 million barrels for the week ended May 29. Analysts expected distillate stocks to jump 950,000 barrels.

The jump in distillate stockpiles is partially due to warmer weather nationwide.

Crude prices fell $1.22 to $$67.33 per barrel on the New York Mercantile Exchange.