U.S crude oil inventories increased by 4.5 million barrels

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Wednesday, Mar 11 2015

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 4.5 million barrels from the previous week, in line with market predictions. At 448.9 million barrels, U.S. crude oil inventories are at the highest level for this time of year in at least the last 80 years. Total motor gasoline inventories decreased by 0.2 million barrels last week, but are well above the upper limit of the average range.

Both finished gasoline inventories and blending components inventories decreased last week. Distillate fuel inventories increased by 2.5 million barrels last week but are in the lower half of the average range for this time of year. Propane/propylene inventories fell 1.3 million barrels last week but are well above the upper limit of the average range. Total commercial petroleum inventories increased by 2.5 million barrels last week.

Data did not have any major impact on the markets with USD remaining broadly lower against its major rivals. Euro is currently below 1.06 handle, Sterling is around 1.4980 area, while Aussie is few points above 0.76 handle.

More in this category: « Draghi said ECB expanded policy tools to meet mandate Australian unemployment rate fell to 6.3% »

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