U.S. Crude Stockpiles Surge by 15.99 Million Barrels, Far Exceeding Forecast

Deep News

Feb 26

The U.S. Energy Information Administration (EIA) inventory report also indicated the following changes for the past week: Gasoline inventories decreased by 1.011 million barrels, compared to an expected decline of 1.5 million barrels. Distillate fuel inventories increased by 252,000 barrels, against an expected decrease of 2 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 881,000 barrels. Refinery utilization rates fell by 2.4 percentage points, whereas an increase of 0.5 percentage points was anticipated. Refinery crude runs decreased by 416,000 barrels per day. U.S. crude imports increased by 135,000 barrels per day. Domestic crude production decreased by 33,000 barrels per day.

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