U.S. crude stocks rose less than expected last week as imports fell, while gasoline stocks decreased and distillate inventories rose, data from the Energy Information Administration showed on Wednesday. Crude inventories rose by 1.3 million barrels to 483.69 million last week, the smallest build reported since the week ending Jan. 2, compared with analysts’ expectations for an increase of 4.1 million barrels. Crude stocks were at record levels for the 14th consecutive week. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.287 million barrels, EIA said. “Since the market has grown accustomed to much larger, if not spectacular, crude oil inventory increases, the smallish build this week is supportive,” said John Kilduff, partner, Again Capital LLC in New York. U.S. crude futures rallied sharply after the EIA data and were up $2.01 at $55.30 a barrel at 11:28 a.m. EDT, after posting a […]