Title: Multiple reasons behind the oil price rise
Headings: 
Multiple reasons behind the oil price rise
The reasons for the oil price rise:
Other reasons
Oil prices in the coming weeks:
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Content: So, this is about three times the estimated increase-a surprise. Distillate fuel inventories fell 900,000 bbl to 151.8 million bbl due to high demand. Gasoline inventories rose by 700,000 bbl to 231.9 million bbl instead of the expected 300,000 bbl. Clearly, there is more crude oil in the market. According to analyst from Raymond James & Associates Inc, total petroleum storage is now at 765.3 million bbl or 16 million bbl above the storage levels, same time last year. Oil supplies in the U.S. West Coast increased, with the stockpiles there jumping by 2.31 million barrels contributing to the overall increase in oil -341.6 million bbl. Still, oil managed to override this supply excess and touch the $80 a barrel mark. The reasons for the oil price rise: While there are many reasons for the increase, some significant ones are: According to the U.S. Energy department, refinery utilization in the U.S. rose to 81.9%, an increase by 0.7% for the week ending February 26.