U.S. Crude Oil Stocks Rise by 3.2 Million Barrels in Week Ended March 29

By Anthony Harrup

U.S. crude oil inventories rose last week, and stocks of gasoline and diesel decreased more than expected while refinery capacity use slipped, according to data released Wednesday by the U.S. Energy Information Administration.

Commercial crude-oil stocks excluding the Strategic Petroleum Reserve rose by 3.2 million barrels to 451.4 million barrels in the week ended March 29, and were about 2% below the five-year average for the time of year, the EIA said.

Analysts surveyed by The Wall Street Journal had predicted crude stockpiles would fall by 1.2 million barrels.

 
Change in U.S. oil inventories for the week ended March 29: 
 
                   Crude       Gasoline      Distillates        Refinery Use 
EIA data:           3.2          -4.3           -1.3               -0.1 
Forecast:          -1.2          -0.9           -0.3                0.4 
 

Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.

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(END) Dow Jones Newswires

04-03-24 1054ET