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Wednesday, March 03, 2021 10:53:21 AM
By: Liz Moyer | March 3, 2021
Investing.com -- U.S. oil stockpiles spiked far more than expected in the latest week, the Energy Information Administration said on Wednesday.
Crude oil inventories soared 21.5 million barrels last week, compared with analysts' expectations for a draw of 928,000 barrels.
Distillate stockpiles, which include diesel and heating oil, fell 9.7 million barrels in the week against expectations for a draw of 3.03 million barrels, the EIA data showed.
Refinery crude runs fell 2.3 million barrels. The weekly refinery utilization rate was down 12.6%, according to the EIA report.
Gasoline inventories fell 13.6 million barrels last week the EIA said, compared with expectations for a 2.3 million-barrel draw.
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