FX.co ★ US Crude Oil Stocks Unexpectedly Rise

U.S. crude oil inventories experienced a surprising rise of 3.939 million barrels in the week concluding on September 5, taking the total stockpile to 424.6 million barrels. Analysts had anticipated a reduction of approximately 1 million barrels. At the Cushing, Oklahoma delivery point, there was a minor decrease in crude stock, dropping by 365,000 barrels. Conversely, gasoline inventories rose by 1.5 million barrels, reaching 220 million barrels, defying predictions for a modest decline of 0.2 million barrels. Distillate inventories, including diesel and heating oil, saw a substantial increase of 4.7 million barrels, climbing to 120.6 million barrels, significantly surpassing the forecasted rise of only 35,000 barrels.