US Crude Oil Inventories Increased by 6.92 Million Barrels Last Week, Higher Than Expected

The U.S. Energy Information Administration (EIA) announced that last week, crude oil inventories increased by 6.926 million barrels, compared to market expectations of a 477,000 barrel increase.

During the period, gasoline inventories decreased by 2.593 million barrels, versus an expected decrease of 2.143 million barrels; distillate inventories increased by 3.032 million barrels, while the market anticipated a decrease of 1.292 million barrels.

Last week, daily crude oil imports increased by 846,000 barrels, and refinery capacity utilization rose by 1.5 percentage points.

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