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UPDATE 1-US oil stocks up, distillate stocks 33 pct below last yr

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* Crude stocks up 1.7 million barrels

* Distillates down 3.2 million barrels

* Gasoline down 0.5 million barrels

* Heating oil futures hit 7-month high

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By David SheppardNEW YORK, Oct 11 (Reuters) ------- API ------ ------ EIA -----Stocks Change Change Stocks Change Change10/05/12 from from 10/05/12 from frompvs wk yr-ago pvs wk yr-agoCrude 364.6 1.6 24.1 366.4 1.7 28.7Distillate 120.8 -6.2 -31.1 120.9 -3.2 -33.1Gasoline 200.3 2.5 -10.9 195.4 -0.5 -14.2Heating oil 27.5 -0.5 -11.7 25.8 -1.6 -13.5RFG gasoline 0.1 0.0 -0.9 0.1 0.0 -0.1Kerosene 42.6 -1.2 -4.3 44.1 -0.3 -2.7Crude runs (bpd) 14.7 -0.2 0.4 14.7 -0.1 0.2

U.S. crude oil stocks rose last week while distillate inventories posted afourth straight draw to stand more than a third below last year's level,government data showed on Thursday.

U.S. distillate stocks, which include diesel and heating oil, fell by 3.2million barrels in the week to 120.9 million barrels, the Energy InformationAdministration reported, far more than analysts' average forecast for a declineof 500,000 barrels.

Total U.S. distillate inventories are now 33 percent below the level oflast October as refinery closures and higher exports have cut into domesticsupplies.

"The report is fairly bullish, with the steep decline in distillateinventories being highlighted as the winter fuel demand season dawns," said JohnKilduff, partner at Again Capital LLC in New York.

Heating oil futures

on the New York Mercantile Exchange hit aseven-month high of $3.2668 a gallon in the immediate aftermath of the report,before easing slightly.

Domestic stocks of crude rose by 1.7 million barrels in the week to Oct. 5,to 366.4 million barrels as imports rose. Analysts polled by Reuters ahead ofthe data release had forecast a stock gain of 800,000 barrels.

Imports of crude rose by 115,000 barrels per day to almost 8.2 million bpdduring the week.

U.S. crude futures

pared gains after the data, trading up 89 cents at$92.14 a barrel at 11:43 a.m. EDT (1543 GMT), off an earlier high of $92.94 abarrel.

U.S. gasoline inventories fell by 534,000 barrels to 195.4 million barrels,against expectations they would be unchanged on the week.

Demand in the world's largest consumer continued to drop, with gasoline useover the four weeks to Oct. 5 down 3.3 percent from year-earlier levels, whiledistillate demand was off 3.5 percent.

Refinery utilization fell by 1.5 percentage points to 86.7 percent ofcapacity.

Stocks at Cushing, Oklahoma, delivery point of the U.S. crude oil future,rose by 300,000 barrels to 44.17 million barrels.

(Reporting By David Sheppard; Editing by David Gregorio; and Peter Galloway)

((d.sheppard@thomsonreuters.com)(+1 646 223 6057)(Reuters Messaging:d.sheppard.thomsonreuters.com@reuters.net))

Keywords: ENERGY STOCKS/EIA