U.S. commercial crude stocks and the country’s strategic reserves both fell in the most recent week as refiners ramped up output amid global supply tightness, the Energy Information Administration said on Wednesday. However, demand for both distillates and gasoline fell in the latest week, which could signal that high prices are starting to put a dent in fuel consumption. Crude inventories (USOILC=ECI) fell by 3.4 million barrels in the week to March 25 to 410 million barrels, the lowest since September 2018. The decline was much steeper than the 1 million-barrel drop that analysts had forecast in a Reuters poll. The nation’s strategic reserve also dropped by […]