In its weekly report on oil market conditions, the US Energy Information Administration reported on Wednesday that crude oil inventories in the United States rose by 3.1 million barrels to reach 464.7 million barrels during the week ending April 3, which is the highest level these stocks have recorded since June 2023, according to what was reported by Reuters.
Market sources quoted American Petroleum Institute figures issued on Tuesday, saying that crude oil inventories in the United States witnessed another jump last week, while gasoline and distillate inventories declined.
The sources indicated that crude oil inventories “rose by 3.72 million barrels” in the week ending April 3.
The sources also explained that gasoline stocks “decreased by 3.97 million barrels” and that distillate stocks “decreased by 599 thousand barrels” compared to the previous week.
