FX.co ★ US Crude Stocks Rise Sharply

US crude oil inventories rose by 3.824 million barrels to 443.1 million in the week ending March 6, 2026, significantly above market expectations for a 1.1 million-barrel build and marking the third consecutive weekly increase. Stocks at the Cushing, Oklahoma delivery hub were up by 117,000 barrels. Refinery activity strengthened, with crude runs increasing by 328,000 barrels per day and utilization rates climbing 1.6 percentage points to 90.8%. Distillate inventories, which include diesel and heating oil, declined by 1.3 million barrels to 119.4 million, a sharper draw than the forecast 0.7 million-barrel decrease. US gasoline inventories also fell, dropping 3.7 million barrels to 249.5 million, compared with expectations for a 2.6 million-barrel decline.