FX.co ★ US Crude Oil Inventories Rise More than Expected: EIA

Crude oil inventories in the United States experienced a significant increase of 2.553 million barrels for the week ending April 4, 2025, surpassing market projections which anticipated a rise of approximately 2.2 million barrels. According to the EIA Petroleum Status Report, the crude reserves at the Cushing, Oklahoma, delivery hub grew by 681 thousand barrels, following a previous gain of 2.373 million barrels. Conversely, gasoline inventories decreased by 1.6 million barrels, slightly underperforming the forecasted reduction of 1.7 million barrels. Distillate stocks, encompassing both diesel and heating oil, saw a notable decline of 3.544 million barrels, contrary to expectations for a modest 0.2 million barrel increase.