US crude oil inventories fall

The Energy Information Administration (EIA) announced that U.S. crude oil inventories fell more than forecast last week, while gasoline inventories fell more than expected. The Energy Information Administration (EIA) announced that U.S. crude oil inventories fell unexpectedly last week as exports increased and refineries continued to increase activity, while gasoline inventories fell more than expected. Crude oil inventories fell 2 million barrels to 445 million barrels in the week ended March 15, compared with analysts’ expectations in a survey of 13,000 barrels for a gain. The EIA said gasoline inventories continued to decline for the seventh straight week, falling 3.3 million barrels to 230.8 million barrels. Analysts had forecast a decline of 1.3 million barrels. Gasoline stored in the Gulf Coast fell 1.82 million barrels to 76.58 million barrels, the lowest level in three years, according to EIA data.