FX.co ★ US Crude Oil Inventories Rise Most in 3 Years

US crude inventories jumped by 15.989 million barrels to 435.8 million barrels in the week ended February 20, marking the largest weekly build in three years and far exceeding market expectations for a 1.5 million-barrel increase. Stocks at the Cushing, Oklahoma, delivery hub rose by 881,000 barrels. Distillate inventories — which include diesel and heating oil — edged up by 252,000 barrels to 120.4 million barrels, defying forecasts for a 1.6 million-barrel decline. In contrast, gasoline inventories fell by 1 million barrels to 254.8 million barrels, a larger draw than the anticipated 560,000-barrel decrease.