After six straight weeks of builds, crude inventories fell by 1.5 million barrels to 447 million barrels in the week ended March 8, the EIA said
U.S. crude oil stockpiles fell unexpectedly last week while gasoline inventories slumped as demand for the motor fuel rose even as refiners ramped up activity after maintenance and outages, the Energy Information Administration said on Wednesday.
Gasoline stocks fell by 5.7 million barrels to 234.1 million barrels the EIA said, nearly triple expectations for a 1.9 million-barrel draw. Stocks at the U.S. Gulf Coast fell to their lowest since November 2022. Finished motor gasoline supplied, a proxy for demand, edged up 30,000 barrels per day to more than 9 million bpd for the first time this year.
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