April 17 (Bloomberg) -- Crude oil and gasoline rose to records after the Energy Department reported unexpected declines in U.S. crude inventories and refinery operating rates.

Oil climbed to $115.21 a barrel in New York, the highest since futures began trading in 1983. Oil supplies dropped 2.36 million barrels to 313.7 million in the week ended April 11, the department said yesterday. Gasoline stocks fell for a fifth week and refineries operated at their lowest rate since October 2005.

``The refinery rates and the gasoline numbers surprised me and they are very much related,'' said Jonathan Kornafel, a director for Asia at Hudson Capital Energy in Singapore. ``The refineries just aren't making the gasoline right now.''

Crude oil for May delivery rose as much as 28 cents in after-hours electronic trading on the New York Mercantile Exchange and was at $114.86 a barrel at 2:39 p.m. Singapore time. Yesterday, oil futures gained $1.14, or 1 percent, to settle at $114.93 a barrel, a record close.

``We've had a period of high gasoline inventories and moderate growth in gasoline demand, and that has led to decisions to pare back refinery utilization,'' said David Moore, commodity strategist at Commonwealth Bank of Australia Ltd. in Sydney.

Oil has risen 82 percent in the past year on surging demand from China, India and the Middle East and on concerns of supply limitations from countries outside the Organization of Petroleum Exporting Countries.

China's Customs General Administration reported on April 15 that its diesel imports climbed 49 percent in March while saying crude inflows rose 25 percent during the month. Output from Russia, the largest oil producer after Saudi Arabia, fell 1.3 percent in March from a year ago.

Brent, Inventories

Brent crude for June settlement rose as much as 17 cents to a record $112.83 a barrel on London's ICE Futures Europe exchange. It was at $112.59 at 2:43 p.m. Singapore time. The contract yesterday climbed $1.08, or 1 percent, to close at an all-time high $112.66 a barrel.

Gasoline inventories fell 5.52 million barrels to 215.8 million barrels, the Energy Department report showed, the biggest drop since August. A 1.8 million-barrel decline was forecast, according to the median of responses by 15 analysts surveyed by Bloomberg News. Supplies reached a peak of 235 million barrels on March 7, their highest since 1994.

U.S. refineries operated at 81.4 percent of capacity, the lowest since October 2005 following hurricanes Katrina and Rita. Lower margins, or crack spreads, reduced the incentive for refiners to process oil into products, including gasoline and diesel fuel.

Crack Lags

``The gasoline crack has been a laggard,'' said Anthony Nunan, assistant general manager for risk management at Mitsubishi Corp. in Tokyo. ``Refineries are possibly reducing run rates to alleviate the oversupply in gasoline.''

Gasoline for May delivery climbed as much as 1.89 cents to a record $2.9579 a gallon in Nymex trading. It was at $2.9540 a gallon at 2:49 p.m. Singapore time.

Yesterday, the contract closed up 5.8 cents, or 2 percent, at a record $2.939 a gallon. That's the highest-ever settlement for gasoline to be blended with ethanol, known as RBOB, which began trading in October 2005.

Crude-oil stockpiles were forecast to rise 1.8 million barrels last week, according to the median of responses by 15 analysts surveyed by Bloomberg News.

U.S. supplies of distillate fuels, a category that includes heating oil and diesel, rose 52,000 barrels to 106.1 million barrels, the first gain in 10 weeks. A 1.65 million-barrel decline was forecast in the Bloomberg News survey.

Heating oil for May delivery was at $3.2790 a gallon at 2:42 p.m. Singapore time in Nymex trading. The contract yesterday rose 0.91 cent, or 0.3 percent, to settle at a record $3.283 a gallon in New York. Futures touched an intraday record of $3.3204 a gallon on April 10.

To contact the reporter on this story: Christian Schmollinger in Singapore at christian.s@bloomberg.net.

Last Updated: April 17, 2008 02:52 EDT