Tag #Refinery Utilization

What were the immediate impacts of the winter storms on U.S. crude oil and distillate fuel markets?

U.S. crude oil inventories increased by 3.5 million barrels last week to 415.1 million barrels, exceeding analysts' predictions of a 3.2 million-barrel rise. This surge follows a decrease in refinery utilization rates due to nationwide winter storms, which impacted fuel production and increased distillate demand.