Crude oil inventories increased in the U.S. last week, according to data released by the Energy Information Administration (EIA) on Wednesday.
Commercial crude oil stocks increased by 1.1 million barrels, or 0.3%, to 417.1 million barrels for the week ending Sept. 13, the EIA data showed. However, the market expectation was a decline of 2.49 million barrels.
Strategic petroleum reserves, which are not included in the commercial crude stocks, remained unchanged at 644.8 million barrels last week, according to the data.
Meanwhile, gasoline inventories rised to 229.7 million barrels, up by 0.8 million barrels, or 0.3%, for the week ending Sept. 13. The previous week saw gasoline inventories fall by 0.7 million barrels.
Crude oil production in the country remained unchanged at around 12.4 million barrels per day for the week ending Sept. 13.
By Gulsen Cagatay