Breaking: US Crude Stocks Rise, Gasoline Falls - EIA
MarketAlleys Desk
Published · 1 min read
In the latest report from the Energy Information Administration (EIA) on Wednesday, U.S. crude stocks witnessed a notable increase, while gasoline and distillate inventories saw declines for the week ending March 29.
According to the EIA, crude inventories surged by 3.2 million barrels, reaching a total of 451.4 million barrels, exceeding analysts' expectations of a 1.5 million-barrel draw as per a Reuters poll. Additionally, crude stocks at the Cushing, Oklahoma, delivery hub dropped by 377,000 barrels.
The report also highlighted a decrease in refinery crude runs, falling by 35,000 barrels per day.
In contrast, U.S. gasoline stocks experienced a significant decline of 4.3 million barrels, totaling 227.8 million barrels for the week. This decline was contrary to analysts' expectations of a 0.8 million-barrel draw, as indicated by the EIA.
Terms in this article
EIA inventory report
The US Energy Information Administration's Weekly Petroleum Status Report, normally released on Wednesdays, showing changes in US crude oil, gasoline and distillate stocks.
Ask about this story
Questions are answered only from this article and the sources it cites.
MarketAlleys provides news and analysis for information only; it is not investment advice or a recommendation to buy or sell any security. Markets involve risk. Risk disclaimer.
Was this useful?
Report an issue with this article
Get the Daily Brief
What moved, why, and what matters next — every morning.
Related coverage
Platinum After The Industrial Metals Bid And The Crude Fade
Platinum is not trading a slogan about jewelry. It is trading a metal that finally caught a bid while crude printed a sixth down session. Copper already had its tightness story. Gold and silver already had their yield stories.
MarketAlleys Desk · · 2 min read
Brent After The Yanbu Loadings Halt And Cancelled European Cargoes
Brent is not trading a slogan about the Gulf. It is trading a Red Sea hub that stopped lifting barrels and a set of European cargoes that Riyadh cancelled.
MarketAlleys Desk · · 2 min read
Iron Ore After China Industrial Production And Retail Sales Prints
Iron ore is not trading a slogan about China growth. It is trading two official prints that landed into a Federal Reserve week. Industrial production and retail sales are the demand tape for the steel chain.
MarketAlleys Desk · · 2 min read
US Diesel After The Saudi East West Pipeline Shutdown And A Record Pump Print
Diesel is not trading as a quieter cousin of crude. It is trading the product that households and truckers actually buy. A Saudi shutdown of the East West line took an alternative route off the map after attacks.
MarketAlleys Desk · · 2 min read