Crude oil inventories in the United States rose this week by 9.337 million barrels for the week ending March 22
, according to The American Petroleum Institute API. The API reported a 1.519-million-barrel drop in crude inventories in the week prior. On Tuesday, the Department of Energy DoE reported that crude oil inventories in the Strategic Petroleum Reserve SPR rose by another 0.7 million barrels as of March 22. Inventories are now at 363 million barrels—the highest point since last April.
40 per barrel compared to this time last week, but up nearly $5 per barrel on the month. The U.S. benchmark WTI was trading down on the day by 0.51% at $81.53, down roughly $2 per barrel compared to last Tuesday. Meanwhile, gasoline inventories fell this week by 4.437 million barrels after falling by 1.574 million barrels in the week prior. As of last week, gasoline inventories were about 2% below the five-year average for this time of year, according to the latest EIA data.
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