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The U.S. Energy Information Administration (EIA) reported that crude oil imports to the U.S. West Coast fell to their lowest level since March 2021.

French Finance Ministry: Three ministers will meet with natural gas distributors on March 5 to discuss the situation in Iran, and the meeting will also cover changes in fuel prices at gas stations.

The U.S. Energy Information Administration (EIA) reported that Cushing crude oil inventories rose to their highest level since August 2024 in the latest week.

March 4 – The European Parliament decided on Wednesday to continue suspending ratification of trade agreements with the United States following the Supreme Court's ruling that Trump's global tariff regime was invalid. The European Parliament's Trade Committee stated that they need more clarity from Washington to ensure the US will continue to adhere to its commitment to a 15% tariff cap on most EU products, as agreed in last summer's trade agreement. Since the ruling, the Trump administration has implemented a temporary 10% general tariff and is currently investigating through Section 301 by US Trade Representative Greer to develop a more permanent tariff plan. Despite urging from leaders such as German Chancellor Merz to ratify the agreement quickly to avoid a trade war, the European Parliament has decided to set the reassessment date for March 17.

The EIA report for U.S. distillate fuel oil production implied demand for the week ending February 27 was 4.9247 million barrels per day, compared to 5.126 million barrels per day in the previous week.

The EIA's data for total U.S. gasoline production and implied demand for the week ending February 27 was 9.3586 million barrels per day, compared to 9.5024 million barrels per day in the previous week.

The EIA crude oil production implied demand data for the week ending February 27 in the United States was 19.524 million barrels per day, compared with 18.077 million barrels per day in the previous week.

U.S. EIA gasoline inventories fell by 1.704 million barrels in the week ending February 27, compared with an expected decrease of 784,000 barrels and a previous decrease of 1.011 million barrels.

U.S. EIA distillate fuel inventories for the week ending February 27 were 429,000 barrels, compared to an expected decrease of 2.596 million barrels and a previous reading of 252,000 barrels.

U.S. EIA new formulation gasoline inventories fell by 12,000 barrels in the week ending February 27, compared with 3,000 barrels in the previous week.

U.S. EIA heating oil inventories for the week ending February 27 were 355,000 barrels, compared to a decrease of 119,000 barrels in the previous week.

U.S. crude oil imports for the week ending February 27, according to the EIA report, decreased by 19,000 barrels, compared to 412,000 barrels in the previous week.

U.S. EIA refined product imports for the week ending February 27 were -605,000 barrels per day, compared to 578,000 barrels per day in the previous week.

U.S. EIA reported crude oil production of 180,000 barrels per day for the week ending February 27, compared to a previous reading of -416,000 barrels per day.

U.S. EIA gasoline production for the week ending February 27 was 119,000 barrels per day, compared to a previous reading of -223,000 barrels per day.

U.S. EIA distillate fuel production for the week ending February 27 was 61,000 barrels per day, compared to a previous week's -136,000 barrels per day.