US crude oil inventories edged lower in the week ended March 26 as refinery demand tested one-year highs, US Energy Information Administration data showed March 31. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Total commercial crude stocks fell 880,000 barrels to 501.84 million barrels last week, EIA data showed, leaving storage levels around 5.4% above the five-year average for this time of year. The draw, the first in five weeks, comes as refinery demand tested one-year highs. Total net crude inputs climbed 3.8% to 14.94 million b/d, the highest since the week ended March 20, 2020. Refinery utilization reached 83.9% of total capacity, up 2.3 percentage points from the week prior and exceeding levels before mid-February’s deep freeze by almost a […]