U.S. crude inventories fell last week, surprising analysts who had expected inventories would rise, according to data released Wednesday by the U.S. Department of Energy. Crude oil stockpiles fell by 1.3 million barrels to 382.7 million barrels, compared with an average survey estimate calling for a 1.7-million-barrel increase. The American Petroleum Institute, an industry group, reported a 400,000-barrel draw in its weekly report released late Tuesday. Crude oil held to gains following the report, with futures for April delivery recently trading 44 cents higher at $92.60 a barrel on the New York Mercantile Exchange. Gasoline stockpiles fell 1.5 million barrels to 222.8 million barrels, the department's Energy Information Administration said in its weekly report, compared with a 2-million-barrel drop forecast in a Dow Jones Newswires survey of analysts. Distillate stocks, which include heating oil and diesel fuel, fell 700,000 barrels to 119.8 million barrels, compared with analysts' forecast of a 900,000-barrel drop. Refining capacity utilization rose 2.5 percentage points to 83.5%. Analysts had expected a 0.1-percentage-point increase. API pegged refinery utilization at 82.9% last week, up from 80.5%. The industry group reported stockpiles of gasoline rose by 300,000 barrels and distillates fell by 1.3 million barrels. Figures in millions of barrels, except for refining use, which is reported in percentage points. Forecasts are the average of expectations in a Dow Jones Newswires survey of analysts earlier in the week.

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