US crude stocks up by almost a quarter y-o-y
US crude oil inventories increased by 4.8M bbls w-o-w to a tenth-consecutive weekly record of 471.4M bbls in the week ending 27 March, according to the US Energy Information Administration. This represents an increase of 24% (91.4M bbls) from the same week last year. US crude oil refinery throughputs were up by 198K b/d from the previous week, averaging 15.7M b/d. Over the last four weeks, US refinery inputs have averaged 15.5M b/d, up by 412K b/d when compared with the same period last year. US crude oil imports fell by 44K b/d w-o-w to average 7.3M b/d. Meanwhile, US gasoline stocks fell by 4.3M bbls w-o-w to 229.1M bbls, the lowest since December.