# EIA: U.S. crude stockpiles rise, products draw on low refining rates

> US crude inventories rose 3.5 million barrels to 442.9 million in the week ending February 16, slightly below analyst expectations. Gasoline and distillate stocks fell as refinery utilization stayed low at 80.6%. The Whiting refinery in Indiana remained offline after an early February outage.

- Date: 2024-02-01 · published 2024-02-01T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/31856-eia-u-s-crude-stockpiles-rise-products-draw-on-low-refining-rates
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Low refinery runs are drawing down product inventories, which supports diesel prices even as crude builds. Ongoing refinery outages sustain the distillate tightness that affects freight costs.

## Read by commodity

- WTI: neutral
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-08-23 | [US crude stockpiles fall as refining runs hit 2020 high - EIA \| Reuters](https://feedsoft.ai/events/34755-us-crude-stockpiles-fall-as-refining-runs-hit-2020-high-eia-reuters.md) | +1.1% | +11.6% |
| WTI | 2018-10-25 | [US crude stocks rise as fuel inventories draw down](https://feedsoft.ai/events/12177-us-crude-stocks-rise-as-fuel-inventories-draw-down.md) | -2.0% | -18.3% |
| WTI | 2025-01-08 | [US crude stocks at Cushing fall to decade-low, fuel inventories surge, EIA says](https://feedsoft.ai/events/10349-us-crude-stocks-at-cushing-fall-to-decade-low-fuel-inventories-surge-eia-says.md) | +4.3% | -4.6% |
| WTI | 2020-09-30 | [U.S. crude, distillate stocks down in most recent week: EIA \| 104.5 & 96.1 The Point](https://feedsoft.ai/events/51291-u-s-crude-distillate-stocks-down-in-most-recent-week-eia-104-5-and-96-1-the.md) | +3.7% | +0.8% |
| WTI | 2017-09-21 | [Changing quality mix is affecting crude oil price differentials and refining decisions -
		U.S. Energy Information Administration (EIA)](https://feedsoft.ai/events/69127-changing-quality-mix-is-affecting-crude-oil-price-differentials-and-refining.md) | +3.6% | +3.4% |
| DIESEL | 2023-11-22 | [US crude stockpiles jump, distillates draw down to 18-mth low - EIA \| Reuters](https://feedsoft.ai/events/33338-us-crude-stockpiles-jump-distillates-draw-down-to-18-mth-low-eia-reuters.md) | -1.0% | -7.4% |
| DIESEL | 2022-09-28 | [Oil prices rise on surprise drop in U.S. crude, fuel stocks](https://feedsoft.ai/events/39763-oil-prices-rise-on-surprise-drop-in-u-s-crude-fuel-stocks.md) | +10.2% | +25.9% |
| DIESEL | 2021-06-30 | [Oil rises on lower U.S. stockpiles, demand recovery - Markets - Business Recorder](https://feedsoft.ai/events/46757-oil-rises-on-lower-u-s-stockpiles-demand-recovery-markets-business-recorder.md) | -1.8% | +1.2% |

## Sources

- hydrocarbonprocessing.com: https://www.hydrocarbonprocessing.com/news/2024/02/eia-us-crude-stockpiles-rise-products-draw-on-low-refining-rates/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.