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

US crude oil inventories rose by 3.475 million barrels to 439.3 million in the week ending February 27, surpassing expectations of a 2.3 million-barrel increase. Stockpiles at the Cushing, Oklahoma delivery hub also expanded, up 1.564 million barrels. Distillate inventories—which include diesel and heating oil—climbed by 0.429 million barrels to 120.8 million, defying forecasts of a 2.6 million-barrel drawdown. In contrast, US gasoline inventories declined by 1.704 million barrels to 253.1 million, a larger drop than the projected 0.8 million-barrel decrease.