US gasoline inventories drop significantly

SANAA, March 24 (YPA) – US crude oil stocks rose and gasoline inventories fell in the most recent week, according to trading sources citing data from industry group the American Petroleum Institute.

Crude inventories jumped by 2.9 million barrels in the week to March 19, compared with analysts’ expectations in a Reuters’ poll for a decline of about 300,000 barrels,  sources said.

Gasoline stocks fell by 3.7 million barrels, compared with expectations for a build of 1.2 million barrels, according to Reuters.

Distillate fuel inventories, which include diesel and heating oil, rose by about 246,000 barrels, versus expectations for a draw of 100,000 barrels.

E.M