EIA: Crude Stocks Up 6th Straight Week, Hit Near 3-Year High


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- U.S. commercial crude oil stocks rose for a sixth 
consecutive in the week ended March 27 reaching the highest level in nearly 
three years, while gasoline and distillate inventories declined, Energy 
Information Administration (EIA) data showed Wednesday (4/1).

   Crude stocks climbed by 5.5 million bbl to 461.7 million bbl during the 
profiled week, according to the EIA Weekly Petroleum Status Report. This marks 
the highest crude stock level for a week since June 16, 2023, when inventories 
stood at 463.3 million bbl. They were also 21.8 million bbl, or 5%, higher than 
a year ago.

   Distillate fuel oil inventories fell by 2.1 million bbl to 117.8 million bbl 
on a weekly basis and were about 3% below year-ago levels. Jet fuel stocks fell 
by 300,000 bbl to 44 million bbl, while rising 1.1 million bbl or 2.6% from 
2025 levels.

   Total motor gasoline inventories extended their decline, falling by 500,000 
bbl to 240.9 million bbl last week. Compared with the same week last year, 
gasoline stocks remain 1.4% above year- ago levels.

   Jet fuel stocks fell by 300,000 bbl to 44 million bbl, while rising 1.1 
million bbl or 2.6% from 2025 levels.

   Refinery utilization decreased to 92.1% last week from 92.9% of operable 
capacity reported the prior week, the EIA data showed. Crude oil input into 
refineries averaged 16.379 million bpd during the week ended March 27, down 
from 16.598 million bpd a week ago.

   Crude oil exports averaged 3.521 million bpd in the profiled week, an 
increase of 199,000 bpd from the previous week. During the week profiled, crude 
imports averaged 6.454 million bpd, a 10,000 bpd decrease from the 6.464 
million bpd recorded last week.

   Total products supplied over the last four weeks averaged 20.901 million 
bpd, up 3.1% from the same period a year earlier. Gasoline demand averaged 
8.554 million bpd, up 0.3% from the same period last year, while distillate 
demand averaged 4.062 million bpd, higher by 1.2% year-over-year.

    




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