US oil inventories soar; gasoline, distillate stocks down

03/04/2024 Argaam
Oil Tanks

Oil Tanks


US crude oil inventories added 3.2 million barrels in the week ended March 29, against expectations for a 600,000-barrel drop.

 

Gasoline stocks, however, shed 4.3 million barrels, exceeding the S&P Global Commodity Insights survey estimate for a decline of 800,000 barrels.

 

Meanwhile, distillate stocks, which include diesel and heating oil, fell by nearly 1.3 million barrels, surpassing the 900,000-barrel projections.
 

US Crude & Derivatives Inventories (mln barrels)

Type

Last Year

Last Week

Current

Weekly Change

Crude oil

470.0

448.2

451.4

+3.2

Gasoline

222.6

232.1

227.8

(4.3)

Distillates

113.1

117.3

116.1

(1.3)

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