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EIA: Crude Oil Inventories in US See Rare Build

Crude oil inventories in the United States saw a surprise increase of 3.0 million barrels during the week ending July 3, according to new data from the U.S.

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Crude oil inventories in the United States saw a surprise increase of 3.0 million barrels during the week ending July 3, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The increase brings commercial stockpiles to 411.4 million barrels, according to government data, which are now 6% below the five-year average for this time of year. The EIA’s data release follows API’s figures that were released a day earlier, which reported that crude oil inventories saw a small draw of 399,000 barrels…

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