UPDATE 1-US crude and gasoline inventories fell last week, distillates rose, EIA says

Updates to include price reaction in paragraph 4

By Liz Hampton and Georgina McCartney

- U.S. crude and gasoline stocks fell last week while distillate inventories rose, the U.S. Energy Information Administration said on Wednesday.

Crude inventories fell by 4.3 million barrels to 452.9 million barrels last week, the EIA said, compared with analysts' expectations in a Reuters poll for a 2.1-million-barrel draw.

Crude stocks at the Cushing, Oklahoma, delivery hub USOICC=ECI dropped by 1.7 million barrels in the week ended May 8, the EIA said.

Oil futures extended gains following the larger-than-expected decline in stockpiles. Global Brent crude futures LCOc1 were trading at $108.04 a barrel, up 27 cents, at 10:37 a.m. ET (1437 GMT), while U.S. West Texas Intermediate futures CLc1 were up $1.10 a barrel to $103.28.

Refinery crude runs USOICR=ECI rose by 370,000 barrels per day in the week, the EIA said, while utilization rates USOIRU=ECI climbed by 1.6 percentage points in the week to 91.7%.

U.S. gasoline stocks USOILG=ECI fell by 4.1 million barrels in the week to 215.7 million barrels, the EIA said, compared with analysts' expectations in a Reuters poll for a 2.9-million-barrel draw.​

Gasoline futures gave up some earlier losses following the bigger-than-anticipated decline in inventories.

Distillate stockpiles USOILD=ECI, which include diesel and heating oil, rose by 0.2 million barrels in the week to 102.5 million barrels, versus expectations for a 2.7-million-barrel drop, the EIA data showed.

Net U.S. crude imports USOICI=ECI fell last week by 318,000 barrels per day, the EIA said.