04.09.202516:25:40UTC+00US Crude Oil Stocks Unexpectedly Rise

During the final week of August, US crude oil inventories increased by 2.415 million barrels to a total of 420.7 million barrels, defying market forecasts that had anticipated a reduction of 1.8 million barrels. Concurrently, crude oil reserves at the Cushing, Oklahoma delivery hub experienced a rise, adding 1.59 million tonnes. On the other hand, gasoline stocks saw a substantial decrease of 3.795 million barrels, marking the largest drop since April, despite a reduction in the product supplied of finished motor gasoline, which dipped by 123 thousand barrels to 9.117 million. Meanwhile, distillate fuel inventories rose by 1.681 million barrels, contrary to predictions of a 0.5 million barrel decrease.