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EIA: US commercial crude stock rose sharply, and gasoline continued to build upEIA: US commercial crude stock rose sharply, and gasoline continued to build up |
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The US commercial crude stockpiles rose 10.2 million barrels last week, the most since March 2021 as refineries cut back on operating rates while the government continue to release more barrels from the strategic reserve, according to data from the Energy Information Administration.
The average operating rates among refineries in the country fell 3.3% during the week, to 92.2%.
Still, gasoline stocks rose by 4.5 million barrels to 223.6 million barrels. This was the fifth consecutive week the US experienced a build-up in gasoline stocks. Similarly, distillate inventories added another 1.4 million barrels, shrugging off the traditionally high-demand season.
