US wholesale inventories jump in March amid surge in petroleum stocks

WASHINGTON - U.S. wholesale inventories posted solid gains in March as petroleum stocks surged, suggesting companies may have front-loaded supplies in response to the war with Iran.

Stocks at wholesalers increased 1.3% after advancing 0.9% in February, the Commerce Department's Census Bureau said on Friday. Petroleum stocks soared 33.9% after rising only 5.5% in February. The U.S.-Israel war with Iran has disrupted shipments of oil and other commodities, driving up prices.

Inventories, a key part of gross domestic product, increased 2.9% on a year-over-year basis in March.

The government estimated last week that business inventories added 0.40 percentage point to the 2.0% annualized rate of increase in the GDP in the first quarter. The economy grew at a 0.5% pace in the October-December quarter.

Sales at wholesalers surged 2.8% in March after increasing 2.6% in February. At March's sales pace it would take 1.21 months to clear shelves, down from 1.23 months in February. The inventories/sales ratio was at 1.30 months in March 2025.

(Reporting by Lucia Mutikani; Editing by Chizu Nomiyama)

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This story was originally published May 8, 2026 at 7:41 AM.