The U.S. Energy Information Administration (EIA) informed on Wednesday
that crude inventories surged by 3.591 million barrels in the week ended June 21, following a
fall of 2.547 million barrels in the previous week. Economists had expected a draw
of 3.000 million barrels.
At the same
time, gasoline stocks climbed by 2.654 million barrels, the
most since the week ended January 19 (+4.91 million barrels). Analysts had forecast
a drop of 1.100 million barrels. The previous week saw a decrease of 2.280 million
barrels.
Elsewhere,
distillate stocks slipped by 0.377 million barrels. Analysts had predicted a decline of 1.500 million
barrels. The previous week witnessed a plunge of 1.726 million barrels.
Meanwhile, oil
production in the U.S. held
steady at 13.200 million barrels per day.
U.S. crude oil
imports averaged 6,6 million barrels per day last week, logging a reduction of 443,000 barrels
per day from the week before.