EIA: US crude inventories piled up despite higher refinery run rates

The commercial crude inventory in the US increased by 2.4 million tons in the week ending 1 April 2022 to 412.4 million barrels, based on the latest data from the Energy Information Agency (EIA).  

Meanwhile, the refinery utilisation rate rose to 92.5%, a 0.4 percentage point higher than the previous week.

Gasoline inventories decreased 2 million barrels to 236.8 million barrels, signalling the continued growing demand ahead of the summer driving season.