United States Crude Oil Stocks Change

Crude oil inventories in the US increased by 3.939 million barrels in the week ending September 5, bringing total stocks to 424.6 million barrels. This build was a surprise, as analysts had expected a decline of about 1 million barrels. At the Cushing, Oklahoma delivery hub, crude stocks fell slightly by 365,000 barrels. Meanwhile, gasoline stocks increased by 1.5 million barrels, to 220 million barrels, compared with forecasts for a small 0.2 million-barrel decline. Distillate stocks, which include diesel and heating oil, climbed by 4.7 million barrels, to 120.6 million barrels. This was far higher than expectations for only a 35,000-barrel increase.