US oil inventories rise 3.1M barrels last week

08/04/2026 Argaam
Oil tanks

Oil tanks

US crude oil inventories rose by 3.1 million barrels in the week ended April 3, beating expectations for a 600,000-barrel increase, according to a report released by the Energy Information Administration (EIA).

 

US Crude & Derivatives Inventories (mln barrels)

Item

Last Year

Last Week

Current

Weekly Change

Crude Oil

442.3

461.6

464.7

+3.1

Gasoline

236.0

240.9

239.3

(1.6)

Distillates

111.1

117.8

114.7

(3.1)
 

What does this mean? The increase in crude inventories indicates weak demand in the US, amid the repercussions of the US war on Iran, which has driven oil prices higher, increasing fuel costs for companies and consumers.

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