U.S. Crude & Gasoline Stocks Low But Showing Signs of Recovering
Notes:
- The current U.S. inventory levels for crude oil and gasoline stocks are low, but improved modestly in March.
- While crude oil inventories are still well below normal levels, they have increased about 10 million barrels since the end of January, despite the tight crude oil market.
- Gasoline stocks at the end of February had dropped about 5% below the low end of the normal range. But during March, they rose slightly, instead of dropping further as they normally would do. This allowed gasoline inventories to re-enter the low end of the normal band.
- While the inventory situation is improving, it remains low. With crude oil inventories still well below normal, and gasoline inventories on the low side of normal, we have little cushion to absorb unexpected events such as refinery or logistical disruptions.