‎US oil inventories spike against forecasts

‎US oil inventories spike against forecasts

US oil inventories spike against forecasts

Oil tanks

US crude oil inventories grew by 3.2 million barrels in the week ended March 22, against expectations for a decrease of 1.2 million barrels.

Elsewhere, gasoline stocks gained 1.3 million barrels, contrary to forecasts for a 1.7-million-barrel drop, marking the first increase after seven straight weeks of decline.

Meanwhile, distillate stocks, which include diesel and heating oil, shed about 1.2 million barrels, although estimates had suggested a rise of 100,000 barrels.
 

US Crude & Derivatives Inventories (mln barrels)

Type

Last Year

Last Week

Current

Weekly Change

Crude oil

473.7

445.0

448.2

+3.2

Gasoline

226.7

230.8

232.1

+1.3

Distillates

116.7

118.5

117.3

(1.2)

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