According to the American Petroleum Institute (API), crude oil inventories in the United States increased by 3.034 million barrels in the week ending April 5, surpassing analysts’ expectations. Inventories had decreased by 2.286 million barrels the previous week. Additionally, the Department of Energy (DoE) reported that the Strategic Petroleum Reserve (SPR) increased by an additional 0.6 million barrels, reaching 364.2 million barrels, the highest level since last year. Oil prices declined due to ongoing ceasefire negotiations, although significant progress in resolving the conflict was not achieved. Both Brent and the U.S. WTI benchmark prices were lower, though still showing increases compared to the previous week. Gasoline inventories decreased, while distillate inventories increased compared to the previous week.