US crude oil inventories rose by 8.5 million barrels to 428.8 million in the week ended February 6, marking the largest weekly increase in a year and far exceeding expectations for a 0.8 million barrel build. Stocks at the Cushing, Oklahoma delivery hub also climbed, gaining 1.1 million barrels.
Gasoline inventories increased by 1.2 million barrels to 259.1 million, in contrast to market expectations for a 0.4 million barrel decline. Distillate stockpiles—which include diesel and heating oil—fell by 2.7 million barrels to 124.7 million, a sharper drawdown than the forecast 1.3 million barrel decrease.
