Oil inventories in member-countries of the Organization of Economic Cooperation and Development in March rose to 2.547 billion barrels, up 27.82 million barrels from February, the report said. Inventories usually fall in the month of March, according to the IEA, an energy adviser to OECD nations.
The Basin crude oil pipeline between Wichita Falls, Texas, and Cushing, Oklahoma, where Nymex crude futures are delivered, has been closed since Tuesday because storage facilities were full.
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