Breaking: U.S. Oil Inventories Rose by 7.5M Barrels Last Week – EIA

Feb 12, 2020

Back Commodities

By Kim Khan

U.S. crude stockpiles rose more than the market was expecting last week, the Energy Information Administration reported Wednesday.

Oil inventories climbed by 7.5 million barrels for the week ended Feb. 7, the EIA said. Analysts were looking for a build of about 3 million barrels, according to forecasts compiled by .

Gasoline inventories fell by 95,000 barrels, versus expectations for a rise of about 550,000 barrels. Distillate stockpiles fell by 2 million barrels, compared with forecasts for a decline of about 560,000 barrels.

WTI futures pared gains, rising 3%. They were up about 3.5% right before the numbers came out.

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