US Total Crude Oil Stocks Decline Unexpectedly in Week Ended March 21

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US Total Crude Oil Stocks Decline Unexpectedly in Week Ended March 21

, MT Newswires - 10:40 AM ET 3/26/2025 default

10:40 AM EDT, 03/26/2025 (MT Newswires) -- US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 3.1 million barrels in the week ended March 21 following an increase of 2 million barrels in the previous week.

Excluding inventories in the SPR, commercial crude oil stocks fell by 3.3 million barrels after a 1.7-million-barrel gain in the previous week, compared with the 2-million-barrel increase expected in a survey compiled by Bloomberg as of 7:30 am ET.

Stocks in the SPR rose by 300,000 in the week, same as in the previous week.

Overall crude oil stocks were down 0.4% from the previous week but were still up 2.3% from a year earlier. Crude oil inventories are about 5% below the five-year average for this time of the year.

Gasoline stocks decreased by 1.4 million barrels, compared with the 1.5-million-barrel decrease expected. Gasoline stocks were down 0.6% from the previous week, but up 3% from a year earlier.

Distillate stocks declined by 0.4 million barrels in the current week, compared with an expected decrease of 1 million barrels. Distillate stocks were down 0.4% from the previous week and 2.5% lower than in the same week a year ago.

Refineries operated at 87% of their capacity, slightly above the 86.9% rate in the previous week.

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