US crude oil stocks up 5.5 mln bbl in week ended Fri, exports up, says EIA
This story was originally published at 10:35 IST on 2 April 2026
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MUMBAI – US crude oil inventories, excluding those in the strategic petroleum reserves, rose by 5.5 million barrels to 461.6 million barrels in the week ended Friday, the US Energy Information Administration said in its weekly report. Analysts polled by Dow Jones had estimated a rise of 800,000 barrels. US crude oil inventories were about 0.1% above the five-year average for this time of the year, according to the report.
Petrol inventories fell by 600,000 barrels from the previous week to 240.9 million barrels in the week-ended Friday. Analysts polled by Dow Jones had estimated petrol inventories to fall by 1.5 million barrels. Distillate fuel stocks fell by 2.1 million barrels to 117.8 million barrels during the week. Analysts polled by Dow Jones had expected a fall of 300,000 barrels in distillate stocks. Distillate fuel stocks were around 3% below the five-year average for this time of the year.
Refinery utilisation stood at 92.1%, accoding to the report. Crude oil production in the US, the larget producer of the commodity, was unchanged at 13.66 million barrels per day in the week ended Friday.
US crude oil exports rose 199,000 barrels per day to 3.52 million barrels per day, according to the report. Strategic petroleum reserves fell 400,000 barrels to 415.1 million barrels during the week.
US crude oil imports averaged 6.5 million barrels per day during the week, down 10,000 barrels per day from the previous week. Over the past four weeks, US crude oil imports averaged around 6.6 million barrels per day, 12.8% higher than the corresponding period last year.
Of the top 10 countries that export crude oil to the US, imports from four countries fell in the week ended Friday. Imports from Venezuela fell the most, by 355,000 barrels per day to 194,000 barrels per day. On other hand, imports from Colombia rose the most, by 327,000 barrels per day to 416,000 barrels per day, according to the report.
Inventories of crude oil at Cushing, Oklahoma, a key delivery point for West Texas Intermediate crude, rose 500,000 barrels to 31.5 million barrels in the week ended Friday. Cushing is the designated delivery point for NYMEX crude oil futures. Market participants closely monitor stockpiles in Cushing, which has a storage capacity of about 90 million barrels.
At 1017 IST, the most-active May contract of crude oil on the NYMEX was up 5% at $105.44 per barrel.
Inventory (mln barrels) | Weekly change (%) | |
Crude oil | 461.6 | 1.2 |
Petrol | 240.9 | (-)0.2 |
Kerosene-type jet fuel | 44.0 | (-)0.7 |
Distillate fuel oil | 117.8 | (-)1.8 |
Propane/propylene | 77.0 | 5.6 |
Unfinished oils | 79.7 | (-)2.3 |
Other oils | 281.9 | (-)2.3 |
End
US$1 = INR 93.60
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Reshma Ravi
Edited by Akul Nishant Akhoury
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