API Oil Inventories
Source: American Petroleum Institute
Crude oil supplies increased by an unexpected 9.5 million barrels during the week ended March 9, the
American Petroleum Institute
reported Tuesday. Analysts were expecting a much smaller increase in crude oil supplies, according to a
poll. Total supplies of crude oil now stand at 285.3 million barrels, one million barrels lower than a year ago.
For the same period ended March 9, distillate stocks (heating oil and diesel fuel) fell by 544,000 barrels, in line with market forecasts. Supplies are now at 113.92 million barrels, an 9.8 million-barrel surplus compared to a year ago.