After 10 straight weeks of crude stocks building, U.S. commercial crude oil inventories decreased by 1.3 million barrels from the previous week compared to the expected increase of ~2 million barrels. Total crude oil stocks of 382.7 million barrels are well above the upper limit of the average range for this time of year. Total commercial petroleum inventories decreased by 1.5 million barrels last week.
[table]
[attr style=”width: 25%”]March 15`[attr style=”width: 25%”]March 8`[attr style=”width: 25%”]Change`[attr style=”width: 25%”]% Change
382,700`384,000`-1,300`-0.3%
[/table]
Source: EIA