US Private Inventory Data (bbls): Crude +10.3mln (exp. -1.3mln), Distillate -10.4mln (exp. -1.3mln), Gasoline -3.2mln (exp. -2.2mln), Cushing +0.8mln

The significant increase in crude inventories, contrasting sharply with expectations for a decline, suggests a potential oversupply in the oil market.

Newsquawk StaffPublished 31 Mar 2026, 21:08 UTCOn the live feed at 20:48 UTC — 3 more headlines followed before this page went public

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20:58

US President Trump posts "Birthright Citizenship has to do with the babies of slaves, not Chinese Billionaires who have 56 kids, all of whom “become” American Citizens. One of the many Great Scams of our time!"

20:54

Powerful explosion rocks American base in Erbil, according to Press TV

20:48

US Private Inventory Data (bbls): Crude +10.3mln (exp. -1.3mln), Distillate -10.4mln (exp. -1.3mln), Gasoline -3.2mln (exp. -2.2mln), Cushing +0.8mln

20:42

US Senator warns that Houthi blockade of Suez Canal would create dire situation, according to Al Jazeera

20:35

White House says US President Trump will sign a mail-in voting executive order (expected at 22:00BST/17:00EDT)

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Context

Meanwhile, the drawdown in distillate and gasoline inventories, although also lower than expected, could indicate ongoing demand resilience in those segments. This mixed data set may lead to cautious sentiment in crude prices while supporting the outlook for refined products.

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