U.S. Oil Stockpiles Rise by 3.5 M Barrel in Week

Crude oil inventories in the United States declined by 3.5 million barrels last week, data by the Energy Information Administration (EIA) showed on Wednesday.

Oil stockpiles reached 501.8 million barrels for the week ended on April 2, according to the EIA’s weekly report.

Meanwhile, gasoline inventories increased by 4 million barrels to 230.5 million barrels, as refineries recovered strongly from recent disruptions.

Distillate inventories also rose by 1.5 million barrels to reach 144.1 million barrels.