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US Crude Stocks Climb To Fourth-Consecutive Record High

Oil

US crude oil inventories increased by 8.2M bbls w-o-w to a fourth-consecutive weekly record high of 528.4M bbls in the week ending 3 March, the US EIA said. Compared to the same week in 2016 and 2015, stocks are up by 37.6M bbls and 113.0M bbls respectively. US crude imports increased by 561K b/d from the prior week to 8.2M b/d. US crude refinery throughputs dropped by 172K b/d w-o-w to 15.5M b/d.