U.S. oil inventories jump but product stockpiles drop
Commercial crude oil stockpiles increased by 8.2m barrels a day during the week ending on March 3 to reach 528.4m, according to the Energy Information Administration (EIA), the U.S. Department of Energy's statistical arm.
However, those of motor gasoline plummeted by 6.6m barrels, together with a 2.7m barrel fall in those of distillates.
In parallel, imports ran at an average pace of 8.2m barrels a day last week, which was 561,000 barrels more than during the previous week.
Meanwhile, refineries operated at 85.9% of their operating capacity. ■