Oil dips on inventories, gold vulnerable March 3, 2021SharePrint Oil dips after huge crude increase Crude prices initially sold off after US weekly crude stockpiles surged by the most since 1982. The deep freeze made inventories rise by 21.56-million barrels, much higher than the 1.285-million barrels prior reading. This was the biggest percentage increase since 1982 and the most on record. Gasoline and Distillates posted huge draws as refineries struggled to return to normal. We could be in store for a few more weeks of draws for crude stockpiles. WTI crude seems like it just wants to head higher, but some exhaustion should occur as OPEC+ brings back more production and as shale companies are willing to commit to drilling new wells.