Oil Futures Climb Despite Crude Oil Stock Build


   
Maria Eugenia Garcia
DTN Energy Editor

   HOUSTON, TX (DTN) -- Oil futures rose Wednesday, despite Energy Information 
Administration and American Petroleum Institute data showing a commercial crude 
oil inventory draw last week.

   The EIA reported commercial crude oil inventories in the U.S. rose by 1.7 
million bbl to 437 million bbl in the week ending March 14. This was below the 
4.593 million bbl build reported by API yesterday (3/18) for the same reference 
week.

   Gasoline stocks dropped by 500,000 bbl week-over-week to reach 240.6 million 
bbl, in the week ended March 14. This was above the 1.71 million bbl decrease 
reported by API for the same period.

   Distillate fuel stocks recorded the steepest draw by falling 2.8 million bbl 
to 114.8 million bbl last week, according to EIA, which was larger than the 
1.14 million bbl fall API reported for the same week.

   Refinery utilization rose to 86.9% from 86.5% reported the prior week.

   The front-month NYMEX WTI futures contract climbed by $0.43 to $67.33 bbl, 
and the May ICE Brent futures contract rose by $0.41 to $70.97. April RBOB 
futures contract increased by $0.0096 to $2.1780 gallon while the ULSD futures 
contract for March delivery rose by $0.0297 to $2.2242 gallon.

   The U.S. dollar index also increased by 0.52% to 103.41, compared to a 
basket of foreign currencies.  

    

    

    




(c) Copyright 2025 DTN, LLC. All rights reserved.