According to a report released by the US Energy Information Administration (EIA) on Wednesday, US crude oil inventories increased in the latest week, while gasoline and distillate inventories declined.

The EIA report shows that as of the week ending March 1st, US crude oil inventories increased by 1.4 million barrels to 448.53 million barrels, with a market estimate of an increase of 2.1 million barrels.

The EIA report shows that the inventory of Cushing crude oil in Oklahoma increased by 701,000 barrels last week.

Last week, the processing volume of US refineries increased by 594,000 barrels per day, and the capacity utilization rate increased by 3.4% from the previous week to 84.9%.

That week, US gasoline inventories decreased by 4.5 million barrels to 239.7 million barrels, following a market estimate of a decrease of 1.6 million barrels.

During the week, distillate oil inventories, including diesel and heating oil, decreased by 4.1 million barrels to 117 million barrels, with a market estimate of a decrease of 665,000 barrels.

The net import of crude oil in the United States increased by 928,000 barrels per day.

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