Energy Preview: EIA Crude Oil Inventories Up 2.4 Million Barrels

7 Apr 2022 , 09:01 AM

The US Energy Information Administration reported an inventory increase of 2.4 million barrels for the week to April 1. This compared with a draw of 3.4 million barrels for the previous week. In gasoline, the EIA estimated an inventory draw of 2 million barrels for the week to April 1, which compared with a build of 800,000 barrels for the previous week. Gasoline production, the EIA said, averaged 9.1 million barrels daily, a slight increase on the previous week. Gasoline prices, meanwhile, remain high, with the national average as of April 5 at $4.176 per gallon. In middle distillates, the EIA estimated an inventory increase of 800,000 barrels for last week, which compared with a draw of 2.1 million barrels for the previous week. Middle distillate production averaged 5 million barrels daily last week, which compared with 5.1 million bpd for the previous week.

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