# U.S. crude oil inventories rose as utilization drops

> U.S. crude inventories rose for a ninth straight week to about 479 million barrels, the highest since May 2021, according to EIA data for the week to February 17. Refinery utilization fell to 85.9% during maintenance, and distillate stocks rose to their highest since January 2022. Crude futures traded just over $74.99 after the data.

- Date: 2023-02-24 · published 2023-02-24T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/37510-u-s-crude-oil-inventories-rose-as-utilization-drops
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Large crude and distillate builds signal ample supply and weaker refining demand, which points to softer diesel and energy costs for feed logistics.

## Read by commodity

- WTI: bearish ▼
- DIESEL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-05-18 | [CORRECTED-UPDATE 1-Oil drops on rising US crude inventories, defies expected supply cut extension](https://feedsoft.ai/events/70932-corrected-update-1-oil-drops-on-rising-us-crude-inventories-defies-expected.md) | +4.2% | -9.3% |
| WTI | 2019-03-06 | [EIA: US crude inventories climb 7.1 million bbl](https://feedsoft.ai/events/60290-eia-us-crude-inventories-climb-7-1-million-bbl.md) | +0.6% | +10.6% |
| WTI | 2020-04-15 | [Oil drops on record inventory build, supply concerns](https://feedsoft.ai/events/4484-oil-drops-on-record-inventory-build-supply-concerns.md) | -32.0% | +25.9% |
| WTI | 2018-11-22 | [Oil falls on rising U.S. inventories, OPEC talk of cut limits loss](https://feedsoft.ai/events/10582-oil-falls-on-rising-u-s-inventories-opec-talk-of-cut-limits-loss.md) | -5.6% | -16.1% |
| WTI | 2020-09-10 | [Oil prices dip as inventory builds](https://feedsoft.ai/events/10509-oil-prices-dip-as-inventory-builds.md) | +5.6% | +4.8% |
| DIESEL | 2017-05-18 | [CORRECTED-UPDATE 1-Oil drops on rising US crude inventories, defies expected supply cut extension](https://feedsoft.ai/events/70932-corrected-update-1-oil-drops-on-rising-us-crude-inventories-defies-expected.md) | +4.9% | -8.0% |
| DIESEL | 2025-02-26 | [US crude stockpiles fall as refining picks up, fuel inventories build, EIA says \| Reuters](https://feedsoft.ai/events/26245-us-crude-stockpiles-fall-as-refining-picks-up-fuel-inventories-build-eia-says.md) | -4.0% | -4.1% |
| DIESEL | 2022-11-02 | [Diesel inventories on ‘fumes’ as report sees recent stock rise - FreightWaves](https://feedsoft.ai/events/7918-diesel-inventories-on-fumes-as-report-sees-recent-stock-rise-freightwaves.md) | +6.0% | -14.8% |

## Sources

- hydrocarbonprocessing.com: https://hydrocarbonprocessing.com/news/2023/02/us-crude-oil-inventories-rose-as-utilization-drops/

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