U.S. Crude Oil Stockpiles Rise for Seventh Straight Week

Dow Jones04-08

By Anthony Harrup

U.S. crude oil inventories rose for a seventh consecutive week, while gasoline and diesel stockpiles fell, according to data released Wednesday by the U.S. Energy Information Administration.

Commercial crude oil stocks excluding the Strategic Petroleum Reserve rose by 3.1 million barrels to 464.7 million barrels in the week ended April 3 and were about 2% above the five-year average for the time of year, the EIA said. Crude stocks were expected to have increased by 600,000 barrels, according to a Wall Street Journal survey of analysts.

Oil stored in the SPR fell by 1.7 million barrels to 413.3 million barrels as the Energy Department released oil in response to major supply disruptions through the Strait of Hormuz brought on by the war in the Middle East. Oil stocks at Cushing, Okla., the Nymex delivery hub, were up by 24,000 barrels at 31.5 million barrels.

U.S. crude oil production fell by 61,000 barrels a day to 13.6 million barrels a day, according to EIA estimates. Imports were down by 130,000 barrels a day at 6.3 million barrels a day, and exports increased by 628,000 barrels a day to 4.1 million barrels a day.

Refinery capacity use slipped to 92% from 92.1% the previous week, with crude input to refineries down by 129,000 barrels a day at 16.3 million barrels a day. Refinery runs were forecast to have risen by a half percentage point in the Journal survey.

Gasoline inventories fell by 1.6 million barrels to 239.3 million barrels, and were 3% above the five-year average, the EIA said. Gasoline demand was down by 122,000 barrels a day at 8.6 million barrels a day. Gasoline stocks were estimated to have decreased by 1.9 million barrels.

Distillate fuel stocks fell by 3.1 million barrels versus expectations of an 800,000 barrel decline, and stood at 114.7 million barrels, or 5% below the five-year average.

 
Change in U.S. oil inventories for the week ended April 3: 
 
                   Crude       Gasoline      Distillates        Refinery Use 
EIA data:           3.1          -1.6           -3.1                -0.1 
Forecast:           0.6          -1.9           -0.8                 0.5

Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.

Write to Anthony Harrup at anthony.harrup@wsj.com

(END) Dow Jones Newswires

April 08, 2026 10:54 ET (14:54 GMT)

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U.S. Crude Oil Stockpiles Rise for Seventh Straight Week

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