US crude stockpiles seen up last week, products likely fell

U.S. crude oil stockpiles were seen rising last week, while distillate and gasoline inventories were expected to fall, a preliminary Reuters poll showed on Monday.

Six analysts polled by Reuters estimated on average that crude inventories rose by about 200,000 barrels in the week to March 24.

The poll was conducted ahead of reports from the American Petroleum Institute, an industry group, due at 4:30 p.m. EDT (2030 GMT) on Tuesday, and the Energy Information Administration, the statistical arm of the U.S. Department of Energy, due at 10:30 a.m. (1430 GMT) on Wednesday.

Crude inventories rose by 1.1 million barrels in the week to March 17 to 481.2 million barrels, their highest since May 2021. Analysts in a Reuters poll had expected a 1.6 million-barrel drop.
Source: Reuters