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Oil Stockpile Rose By 2.346 Million Barrels Last Week: EIA By Investing.com

by Mike Robinson

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© Reuters.

Investing.com — The U.S. crude oil stocks unexpectedly rose during the week ended Wednesday, according to the Energy Information Administration.

Last week’s crude inventories rose by 2.346million barrels, which is a significant increase compared to analysts’ predictions of a draw at 418,000 barrels.

According to the EIA, distillate stocks, which also include diesel, declined by 396,00 barrels per week, against the expectations for a draw in excess of 1.007 millions barrels.

According to the EIA, gasoline inventories increased by 3.256million barrels in last week’s oil market report. This is a significant increase compared to expectations of a draw at 279,000 barrels.

 

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