U.S. oil prices fell over 1 percent on Thursday after industry data suggested a key pipeline shutdown had not reduced crude flows to the U.S. storage base by as much as expected.
Market intelligence firm Genscape reported a build of 255,804 barrels at the Cushing, Oklahoma delivery hub for U.S. crude futures during the week to Tuesday, traders who saw the data said.
The build came despite TransCanada having shut since Saturday its 590,000 barrels per day (bpd) Keystone crude pipeline that moves crude to Cushing and Illinois.
Genscape did note a 481,485-barrel decline at Cushing in the five days to Tuesday, apparently due to the Keystone shutdown that was caused by a potential leak, traders said. But that wasn't enough to offset total inflows for the week.
"I guess people were expecting even more impact from the Keystone closure," said a trader.