Overview

• Crude oil inventories in the U.S. rose by 4 million barrels last week, defying analyst expectations for a draw, according to the EIA.
• Gasoline inventories fell by 1 million barrels, while distillate stocks dropped by 3.2 million barrels, reaching their lowest level since April 2005.
• Net U.S. crude imports increased by 422,000 barrels per day, contributing to the unexpected stock build.
• The Strategic Petroleum Reserve added 500,000 barrels, bringing its total to 399.6 million barrels, still far below pre-withdrawal levels.
• Cushing, Oklahoma crude stocks fell by 850,000 barrels, reflecting ongoing supply adjustments at the key delivery hub.