U.S. crude oil inventories rose by 2.6 million barrels to 442.3 million barrels in the week ending April 4, 2025, according to the U.S. Energy Information Administration (EIA). This increase surpassed analysts’ expectations of a 1.4 million-barrel rise.
The build was primarily due to a decline in exports, which fell by 637,000 barrels per day to 3.2 million barrels per day—the lowest level since January. This drop in exports coincided with China’s announcement of imposing 84% tariffs on U.S. goods in response to U.S. trade policies, potentially affecting U.S. oil exports to China.
Meanwhile, gasoline inventories decreased by 1.6 million barrels to 236 million barrels, aligning with the five-year average for this time of year. Distillate fuel inventories, including diesel and heating oil, fell by 3.5 million barrels to 111.1 million barrels, about 9% below the five-year average.
Refinery utilization increased slightly by 0.7 percentage points to 86.7%, with crude inputs averaging 15.6 million barrels per day.
Following the EIA report, oil prices declined over 5%, reflecting market concerns about rising inventories and potential trade disruptions
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