FX.co ★ US Crude Inventories Rise the Most in 3 Months

US crude oil inventories rose by 4.657 million barrels in the week ended November 6, the largest increase since August and a sharp reversal after five consecutive weeks of declines. Markets had expected a draw of 1.1 million barrels. Stocks at the Cushing, Oklahoma, delivery hub edged up by 106,000 barrels, while refinery crude runs increased by 322,000 barrels per day. Refined product inventories also expanded: distillate stocks, including diesel and heating oil, jumped by 4.071 million barrels, the largest gain since July, and gasoline inventories added a further 1.799 million barrels. At the same time, net US crude imports rose by 544,000 barrels per day.