U.S. crude oil stocks rise 4.5 mln bbls - API - RTRS

Eren Sengezer FXStreet

U.S. crude stocks rose last week, while gasoline and distillate inventories drew, according to the weekly report published by the American Petroleum Institute on Tuesday, as reported by Reuters.

Further details

Crude inventories rose by 4.5 million barrels in the week to March 17 to 533.6 million, vs. expectations for an increase of 2.8 million barrels
Crude stocks at the Cushing, Oklahoma, delivery hub rose by 2 million barrels
Refinery crude runs rose by 224,000 barrels per day
Gasoline stocks fell by 4.9 million barrels, vs. expectations for a 2 million-barrel decline
Distillate fuels stockpiles, which include diesel and heating oil, fell by 883,000 barrels, vs. expectations for a 1.4 million-barrel drop
U.S. crude imports rose last week by 615,000 barrels per day to 7.9 million bpd.

Following the data, WTI is down %1.5 at $48.15.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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