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EIA: US crude inventories grow as refinery rates drop to multi-year lows

US crude stockpiles gained 4.6 million barrels in the week ended Sept. 1, while gasoline and distillate supplies fell by 3.2 million barrels and 1.4 million barrels respectively, according to the Energy Information Administration. US refining runs plunged 18.4% last week to 14.5 million barrels per day, the lowest level since March 2013, while Gulf Coast refining rates were down by 40% to the lowest level since September 2008.

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