Americas Daily Oil Summary:

Crude stocks as expected drew driven by a further recovery in US refinery utilisation rates as well as a rebound in crude exports to offset a small recovery in imports.

• EIA Weekly US Petroleum Summary - w/w change week ending Mar 15: Crude stocks -1,952 vs Exp -733, Gasoline stocks -3,310 vs Exp -2,336, Implied mogas demand -235, Distillate stocks +624 vs Exp -239, Implied dist demand +411
• Canada’s TMX pipeline is on track to be in service within three months Trans Mountain's chief financial and strategy officer Mark Maki told S&P Global’s CERAWeek.
• The Canada Energy Regulator said Tuesday it ordered Trans Mountain Expansion Pipeline (TMX) to stop work on part of its expansion project.
• Canada’s Alberta province needs to dramatically increase its output and further expand its export pipeline capacity to meet a potential heavy crude shortage in the USGC, according to Argus, citing premier Danielle Smith.
• US State Department Official Geoff Pyaat said on Tuesday he plans to meet Latin American leaders this week to discuss fair Venezuelan elections as well as oil sanctions.
• USD: Initial moves following the Fed release saw some moderate pressure on the greenback with USDJPY falling 30 pips or so to 151.26, although this move has largely been pared over the past few minutes, potentially on the back of the much stronger growth profile than previously expected and lower unemployment rates.
• MNI: FED HOLDS RATES AT 5.25%-5.5%; NO DISSENTS
• MNI: MEDIAN FOMC OFFICIAL SEES 3 CUTS IN 2024, UNCH FROM DEC
• MEDIAN FOMC OFFICIAL SEES 3 CUTS IN 2024, UNCH FROM DEC