Commercial crude-oil stocks excluding the Strategic Petroleum Reserve rose by 1.2 million barrels to 421.9 million barrels in the week ended Jan. 26, and were about 5% below the five-year average for the time of year, the EIA said. Storage in the SPR increased by 892,000 barrels to 357.4 million barrels, the EIA said. Gasoline stockpiles rose by 1.2 million barrels to 254.1 million barrels last week. Distillate stocks, mostly diesel fuel, fell by 2.5 million barrels to 130.8 million barrels and were around 5% below the five-year average. Gasoline demand rose by 264,000 barrels a day to 8.1 million barrels a day, and demand for distillates was little changed at 3.8 million barrels a day.

Source: Wall Street Journal February 01, 2024 07:07 UTC