US EditionU.S. crude stocks and distillate inventories rose last week, gasoline stocks fell: EIA
- Crude oil inventories in the United States rose by 6.2 million barrels for the week ending March 28, according to the U.S. Energy Information Administration .
- Total motor gasoline inventories declined by 1.6 million barrels, with daily production increasing to 9.3 million barrels, as noted by the EIA.
- Brent crude prices fell over 6.3% due to the unexpected rise in inventories, as reported at the Intercontinental Exchange.
- The EIA predicts global oil markets will remain tight through mid-2025, with inventory buildup expected later in the year.
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US Crude Oil Inventories See Surprising Buildup, Oil Price Drops More Than 6 Percent
Crude inventories in the United States showed an unexpected gain last week, which, together with other factors, contributed to pushing down oil prices. For the week ending March 28, “U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 6.2 million barrels from the previous week,” the U.S. Energy Information Administration (EIA) said in an April 2 report. This far exceeded market expectations. “A…
·New York, United States
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Total News Sources10
Leaning Left0Leaning Right2Center1Last UpdatedBias Distribution67% Right
Bias Distribution
- 67% of the sources lean Right
67% Right
C 33%
R 67%
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