US crude stockpiles rise as exports hit Jan lows, EIA data shows

Stephanie Kelly

Wed, Apr 9, 2025, 8:20 AM 2 min read

By Stephanie Kelly

NEW YORK (Reuters) - U.S. crude lipid stockpiles roseate past week arsenic imports accrued and exports fell to their lowest since January, portion gasoline and distillate inventories drew down, the Energy Information Administration said connected Wednesday.

Crude inventories roseate by 2.6 cardinal barrels to 442.3 cardinal barrels successful the week ended April 4, the EIA said, compared with analysts' expectations successful a Reuters canvass for a 1.4 million-barrel rise.

Net U.S. crude imports roseate past week by 360,000 barrels per time to conscionable nether 3 cardinal bpd arsenic exports fell 637,000 bpd to 3.2 cardinal bpd, the information showed.

"Exports are connected the little level and we volition person to spot if we are going to suffer entree to the China market, and whether we volition spot a diminished export concern going forward," said John Kilduff, spouse with Again Capital successful New York.

In retaliation against U.S. President Donald Trump's tariff policy, China has announced tariffs connected U.S. goods. From Thursday, China volition enforce 84% tariffs connected U.S. goods, up from the antecedently announced 34%, the concern ministry said.

Oil prices pared immoderate losses aft the EIA information merchandise but were past down implicit 5%.

Gasoline stocks fell by 1.6 cardinal barrels successful the week to 236 cardinal barrels, the EIA said, compared with expectations for a 1.5 million-barrel draw.​

Product supplied of gasoline, a proxy for demand, fell to 8.4 cardinal bpd from 8.5 cardinal bpd successful the erstwhile week. Lower depletion heading into the highest summertime request play has disquieted immoderate investors.

"This is simply a atrocious fig and this mightiness beryllium grounds of what we are proceeding from economists that determination is simply a slowdown, and possibly radical are frightened of tariffs," Kilduff said.

Distillate stockpiles, which see diesel and heating oil, fell by 3.5 cardinal barrels successful the week to 111.1 cardinal barrels, versus expectations for a 260,000-barrel rise, the information showed.

Crude stocks astatine the Cushing, Oklahoma, transportation hub roseate by 681,000 barrels, the EIA said.

Refinery crude runs roseate by 69,000 bpd and utilization rates roseate by 0.7 percent constituent to 86.7% of capacity.

(Reporting by Stephanie Kelly; further reporting by Georgina McCartney; Editing by Marguerita Choy)