US Crude Oil Reserves Register Uptick

The price of oil has fallen over 12 percent over the course of the week since Trump announced his tariffs.

A part of the Trans Alaska Pipeline System runs through boreal forest past Alaska Range mountains near Delta Junction, Alaska, on May 5, 2023. Mario Tama/Getty Images

U.S. domestic crude oil inventories have posted a weekly increase of 2.6 million barrels as commodity prices remained volatile with the new trade tariffs being imposed by the Trump administration.

“U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 2.6 million barrels from the previous week,” according to the April 9 report from the Energy Information Administration (EIA). The data given is for the week ending April 4.