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Macquarie Strategists Forecast USA Crude Inventory Rise

Total petroleum stocks – including crude oil, total motor gasoline, fuel ethanol, kerosene type jet fuel, distillate fuel oil, residual fuel oil, propane/propylene, and other oils – stood at 1.605 billion barrels on April 18, the report highlighted. Total petroleum stocks were down 0.3 million barrels week on week and up 5.9 million barrels year on year, the report outlined.

Macquarie Strategists Forecast USA Crude Inventory Rise

In its latest weekly petroleum status report at the time of writing, which was released on March 26 and included data for the week ending March 21, the U.S. Energy Information Administration (EIA) highlighted that U.S. commercial crude oil inventories, excluding those in the SPR, decreased by 3.3 million barrels from the week ending March 14 to the week ending March 21.