Washington: Crude oil inventories in the United States unexpectedly increased for the second week in a row, according to a report released on Wednesday by the US Energy Information Administration (EIA).
According to Qatar News Agency, the EIA reported that crude oil inventories rose by 1.3 million barrels last week after jumping by 3.5 million barrels in the previous week. Economists had expected crude oil inventories to fall by 1.9 million barrels.
Nonetheless, crude oil inventories remain about 6% below the five-year average for this time of year, the report said.
The report said gasoline inventories also edged up by 0.8 million barrels last week but remain about 2% below the five-year average for this time of year.
Distillate fuel inventories, which include heating oil and diesel, also crept up by 0.6 million barrels last week but are about 16% below the five-year average for this time of year, the EIA said.