US oil inventories spike against forecasts

27/03/2024 Argaam

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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